Tran Company has for its first year of operations had the following production, cost and price data: Selling price $100; Materials per unit $2; Labor per unit $30; Variable Overhead per unit $10; Fixed Manufacturing Overhead $80,000; Fixed Selling and Administrative $40,000; Variable Selling Expenses $2 per unit; Sales in units of 9,500; and production units of 10,000 for its first year of operations. For its second year of operations, sales units total 11,000 and production was 10,500. There were no changes it its cost and price structure. Required: 24. Net operating income - variable costing method for the second year. 25. Net operating income - absorption costing method for the second year.