The following data pertain to last year's operations at TR Company, which produces a single product: Units in beginning inventory Units produced 40,000 Units sold 36,000 Selling price per unit $50 Nariable cost per unit: Direct materials $8 Direct labor $12 $2 Variable manufacturing overhead Variable selling and administrative $1 Fixed costs per year! Fixed manufacturing overhead $350,000 Fixed selling and administrative $400,000 The variable costing net operating income last year was $