Sheridan Company sells its product for $11400 per unit. Variable costs per unit are: manufacturing, $5600; and selling and administrative, $140. Fixed costs are: $28800 manufacturing overhead, and $38800 selling and administrative. There was no beginning inventory at 1/1/20. Production was 24 units per year in 20202022. Sales were 24 units in 2020, 20 units in 2021, and 28 units in 2022. Income under variable costing for 2021 is

$50400.

$96000.

$45600.

$53200.