CanarieManufacturing produces snow shovels. The selling price per snow shovel is $29.00. There is no beginning inventory.

Costs involved in production are:

Direct material $4.00

Direct labor 4.00

Variable manufacturing overhead 3.00

Total variable manufacturing costs per unit $11.00

Fixed manufacturing overhead per year $233,550

In addition, the company has fixed selling and administrative costs of $162,400per year.

During the year,Canarieproduces51,900snow shovels and sells46,500snow shovels.

What is net income using variable costing?