Adam Tools produces screwdrivers and had 1,700 in inventory at the beginning of the year. It has a variable manufacturing cost of $5.00 per unit, a variable selling cost of $0.75 per unit; a fixed manufacturing cost of $45,000 per year; and a fixed selling and administrative cost of $24,000 per year. The selling price is $14.00 per screwdriver. During the year, 18,000 screwdrivers were produced and 18,400 were sold. Assume the same unit costs in all years.