Favaz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $8; fixed manufacturing costs, $56,000; variable selling and administrative costs per unit, $3; and fixed selling and administrative costs, $204,000. The company sells its units for $46 each. Additional data follow:

Planned production in units 10,000

Actual production in units 10,000

Number of units sold 7,500

There were no variances. The income (loss) under variable costing is: