The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is

The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. Selling price per unit $8.20 Variable manufacturing costs per unit $1.84 Variable selling and administrative expenses per unit $4.95 Fixed manufacturing overhead (in total) $80,000 Fixed selling and administrative expenses (in total) $84,000 Units produced during the year 510,000 Units sold during year 170,000 Using absorption costing, what is gross profit for last month? (Round any intermediary calculations to the nearest cent.) $1,054,000 $340,000 $1,394,000 $1,734,000