Arca Company reports the following for its product for its first year of operations.

Direct materials $ $84$ per unit

Direct labor $ $64$ per unit

Variable overhead $ $34$ per unit

Fixed overhead $ $101,600$ per year

Variable selling and administrative expenses $ $6$ per unit

Fixed selling and administrative expenses $ $54,000$ per year

The company sells its product for $$370$ per unit. Compute gross profit using absorption costing assuming the company produces $2,540$ units and sells $2,140$ units.