Wu Equipment Company manufactures and distributes industrial air compressors. The following data are available for the year ended December 31, 2020. The company had no beginning inventory. In 2020, it produced 1,450 units but sold only 1,190 units. The unit selling price was $4,520. Costs and expenses were as follows: Variable costs per unit Direct materials Direct labour Variable manufacturing overhead $720 1,440 230 Variable selling and administrative expenses 65 Annual fixed costs and expenses Fixed manufacturing overhead $1,192,200 Selling and administrative expenses 103,200