By using the information given below calculate the net income under the variable (contribution margin) costing method. Show your calculations. (No beginning finished goods inventory.)

Variable cost of goods sold per unit $ 4.00

Fixed cost of goods sold per unit $ 3.00

Variable operating expenses per unit $ 1.50

Fixed operating expenses per unit $ 1.25

Selling price $ 12.00

Number of units sold 18,000

Number of units produced 20,000