[The following information applies to the questions displayed below.] Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead 25,000 units 15,000 units 9 per unit $ 11 per unit $ 75,000 in total $137,500 in total Given Advanced Company's data, and the knowledge that the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under variable costing. O $55,000 O $67,500 O $80,500 O $122,500 O $205,000