Ivanhoe Company sells its product for $12100 per unit. Variable costs per unit are: manufacturing, $5000; and selling and administrative, $135. Fixed costs are: $37400 manufacturing overhead, and $47400 selling and administrative. There was no beginning inventory at 1/1/20. Production was 34 units per year in 2020-2022. Sales were 34 units in 2020, 30 units in 2021, and 38 units in 2022.

Income under variable costing for 2021 is

$252700.

$124150.

$132600.

$128550.