S&P Enterprises sold 10,000 unit of inventory during a given period. The level of inventory of a manufactured product remained unchanged. The manufacturing costs were as follows: Which of the following statements is true? The difference in net income cannot be determined. Net income under absorption costing will be $40,000 more than under variable costing. Net income under variable costing will be $45,000 less than net income under absorption costing. Net income will be the same under both variable and absorption costing