During 2024, its first year of operations, EIO Company produced 40,000 units and sold 25,000 units. During 2025, EIO Company produced 18,000 units and sold 11,000 units. The following information was taken from EIO's accounting records for 2024 and 2025:  2024 2025 Direct materials cost per unit ............ $11 $14 Direct labor cost per unit ................ $ 8 $15 Variable overhead cost per unit ........... $ 5 $ 8 Variable selling & admin cost per unit .... $ 2 $ 6 Fixed overhead (total cost) ............... $246,000 $135,000 Fixed selling & admin (total cost) ........ $103,000 $112,000 Assume the selling price of ABC Company's product was $68 per unit for both years. Calculate EIO Company's 2024 net income using variable costing.