ABC manufacturing firm, planned and manufactured 10,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $40 per unit produced. Variable operating (non- manufacturing) cost was $10 per unit sold.

Planned and actual fixed manufacturing costs were $200,000. Planned and actual fixed operating (non- manufacturing) costs totaled $100,000.

ABC sold 8,000 units of product at $100 per unit.

Find, CM for 2017. Gross profit for 2017. Operating income under direct or variable costing for 2017. Operating income under total or absorption costing for 2017. Inventory under direct or variable costing for 2017. Please show calculations.