Indiana Corporation produces a single product that it sells for $9 per unit. During the first year of operations, 100,000 units were produced and 90,000 units were sold. Manufacturing costs and selling and administrative expenses for the year were as follows: Fixed Costs Variable Costs Raw materials -- $1.75 per unit produced Direct labour -- 1.25 per unit produced Factory overhead $100,000 0.50 per unit produced Selling and administrative 70,000 0.60 per unit sold What was Indiana Corporation's operating income for the year using variable costing?