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

Selling price	$112
Units in beginning inventory	0
Units produced	4,900
Units sold	4,500
Units in ending inventory	400
Variable costs per unit:
Direct materials	$19
Direct labor	$45
Variable manufacturing overhead	$6
Variable selling and administrative	$9
Fixed costs:
Fixed manufacturing overhead	$117,600
Fixed selling and administrative	$22,500

What is the net operating income for the month under absorption costing?

($19,600)

$9,600

$8,400

$18,000