During the first month of its operations, a company manufactured a product with variable production costs of $50 per unit. Fixed manufacturing overhead totaled $1,800,000 and is allocated based upon units produced. During the month, the company completed 15,000 units, sold 12,000 units, and incurred no variances. If the companys operating income under absorption costing was $400,000, its operating income (loss) under variable costing was