Franz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $9; fixed manufacturing costs, $60,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $220,000. The company sells its units for $45 each. Additional data follow. There were no variances. The income (loss) under variable costing is:

Planned production in units Actual production in units Number of units sold 10,000 10,000 8,500