The following information had been gathered for the year ended December 2019 from Rjfn manufacturing company:

Units produced 10,000

Units sold 9,400

Beg. WIP $10,000

End. WIP $2,000

Beg. Finished Goods $92,000

End. Finished Goods $200,000

Sales price per unit $60

Direct materials per unit $ 8

Direct labor per unit $ 9

Variable manufacturing overhead per unit $ 3

Total fixed manufacturing overhead $ 400,000

Variable selling and administrative cost $ 20,000

Fixed selling and administrative cost $ 15,000

Required: Prepare income statement using VARIABLE method.