Mallory Industries has the following cost information for the year just ended: Direct materials$6.00 per unit Direct labor$2.00 per unit Variable manufacturing overhead$1.50 per unit Fixed manufacturing overhead$40,000 Variable selling and administrative cost$3.00 per unit Fixed selling and administrative cost$50,000 During the year, Mallory produced 10,000 units, out of which 9,100 were sold for $50 each. What is net income under variable costing