Stevens Corporation has provided the following data for its first year of operation: Selling price per unit...... $59.00 Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials ........ Direct labor .......... Variable manufacturing overhead. Fixed manufacturing overhead per year $11.00 $6.00 $4.00 $88,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold ...... $4.00 Fixed selling and administrative expense per year..... $80,000 Units in beginning inventory Units produced during the year....... Units sold during the year Units in ending inventory ..... 0 ...... 11,000 10,000 1,000 The net operating income (loss) under variable costing in Year 1 is closest to: nnnnn