Carlisle Gifts began its operations on January 1 . The company produced 110,000 units; by the end of the year 100,000 had been sold at an average price of $14 /unit. Variable prodyction costs were $5 /unit: variable selling costs, $1 /unit fixed manufacturing overhiead, $220,000; and fixed selling and administrative expenses, $80,000. Under variable costing, what was Carlisle's operating income? $600,000 $720,000 5520,000 15500000