Elder Company, which has only one product, has provided the following data concerning its most recent month of operations:

$127 Selling price Units in beginning inventory Units produced 8,100 7,700 Units sold Units in ending inventory 400 Variable costs per unit: S27 Direct materials.............................. $59 Direct labor Variable manufacturing overhead Variable selling and administrative S8 Fixed costs: Fixed manufacturing overhead S113,400 Fixed selling and administrative.......... S77,000 What is the net operating income for the month under variable costing? $9.800 $(27,400) $15,400 $5,600