Keyser Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price	$	173
Units in beginning inventory		1,450
Units produced		9,350
Units sold		9,450
Units in ending inventory		1,350

Variable costs per unit:
Direct materials	$	39
Direct labor	$	56
Variable manufacturing overhead	$	20
Variable selling and administrative expense	$	30
Fixed costs:
Fixed manufacturing overhead	$	74,800
Fixed selling and administrative expense	$	167,200

The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month.

What is the net operating income for the month under variable costing?

$21,800

$22,600

$5,100

$34,100