Favaz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $8; fixed manufacturing costs, $64,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $218,000. The company sells its units for $48 each. Additional data follow.

Planned production in units	10,000
Actual production in units	10,000
Number of units sold	8,000

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