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Indiana Corporation produces a single product that it sells for $9 per unit. During the first year of operations, 100,000 units were produced, and 90,000 units were sold. Manufacturing costs and selling and administrative expenses for the year were as follows: What was Indiana Corporation's net operating income for the year using variable costing?

 Fixed Costs Variable Costs
 Raw materials $1.75 per unit
 produced Direct labor $1.25 per unit
produced Factory overhead $100,000
$0.50 per unit produced
Selling and administrative $70,000 $0.60 per unit sold

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