Hackney Company, which has only one product, has provided the following data concerning its most recent month of operations: selling price $ 110 units in begnning inventory 0 units produced 4800 units sold 4700 units in ending inventory 100 Variable costs per unit: Direct materials $30 direct labor 52 variable manufacturing overhead $ 3 variable selling and administrative $ 7 Fixed costs: fixed manufacturing overhead $ 72,000 fixed selling and administrative $ 9,400 What is the net operating income for the month under variable costing? Answer $4,700 $(5,300) $1,500 $3,200