year, variable selling, and administrative expenses were $80,000, and fixed selling and administrative expenses were $180,000. There was no beginning inventory. Assume that direct labour is a variable cost. Under variable costing, what was the company's operating income for the year, as compared with under absorption costing? (Do not round intermediate calculations and round your final answer to nearest whole dollar). $96,355 lower than under absorption costing. O $108,000 lower than under absorption costing. $60,000 higher than under absorption costing. O $108,000 higher than under absorption costing