7) Apple Inc. has presented the below information relating to manufacturing of iPhone 7 at the yearend December 2016: Selling and administrative costs: Fixed S400,000 Variable per unit $25 each Total sales units 340,000 S210 each Manufacturing costs: Fixed S11,000,000 Variable cost per unit $120 each Balance in finished units at the start ofthe year 90,000 Balance in finished units at the close of the year 150,000 Net income under absorption costing is (a) S12,250,000 (b) S21,125,000 (c) $12.350.000 O A O B O C O D