During its first year of operations, the McCormick Company incurred the following manufacturing costs:

$\backslash$table$[[$Direct materials,$$4$ per unit$],[$Direct labor,$$2$ per unit$],[$Variable overhead,$$3$ per unit$],[$Fixed overhead,$$256,000$ per year$]]$

The company produced $32,000$ units, and sold $26,500$ units, leaving $5,500$ units in inventory at year$-$end. Income calculated under variable costing is determined to be $$380,000.$ How much income is reported under absorption costing?