Cagney Industries has the following cost information for the year just ended: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative cost Fixed selling and administrative cost $ 1.00 per unit $ 2.00 per unit $ 1.50 per unit $30,000 $ 0.50 per unit $25,000 During the year, Cagney produced 6,000 units, out of which 5,400 were sold for $20 each. What is net income under variable costing? Multiple Choice $26,000. $35,000. $29,000