Spacely Sprockets currently uses a normal variable costing system. Overhead is applied on the basis of number of units. The company makes a single product that it sells for $10 per unit. Last year the company produced 40,000 units, consistent with their projections. However, they sold only 30,000 units. Below are the costs for the year:Direct materials and labor: $120,000Variable overhead: $40,000Fixed overhead: $80,000If the company had instead used an absorption costing system, how much higher or lower would net income have been?Group of answer choices$20,000 lower$30,000 lower$30,000 higherImpossible to tellNo change$20,000 higher