Meef Corporation has provided the following data for its two most recent years of operation: $ 84 Selling price per unit Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year A A A 12 $ 5 4 $432,000 $ 5 $ 61,000 Units in beginning inventory Units produced Units sold Units in ending inventory Year 1 0 12,000 9,000 3,000 Year 2 3,000 9,000 10,000 2,0000 The net operating income (loss) under variable costing in Year 1 is closest to: $522,000 $137,000 $567,000 $29,000