The following data are available regarding an organization who makes a single product.

	Period 3
Production (units)	20,000
Sales	22,500
Opening Stock	2,500
Closing Stock	_

The following cost structure applies (based on a budgeted level of 17,000 units per period).

	Cost per unit
	$
Direct Material	3.00
Direct Labour	7.00
Production Overheads	3.00
	13.00

Selling price is $16 per unit

Administrative overheads are $15,000 per period and the budgeted production overheads are$51,000 per period of which $34,000 () are fixed.

What is the Absorption Costing Profit/Loss?