Anchovy, Inc., a producer of frozen pizzas, began operations this year. During this year, the company produced 16,000 cases of pizza and sold 15,000. At year-end, the company reported the following income statement using absorption costing. 
Production costs per case total $19, which consists of $15.50 in variable production costs and $3.50 in fixed production costs (based on the 16,000 units produced). Eight percent of total selling and administrative expenses are variable. Compute net income under variable costing.
Definitions:
Perennial Crops
Plants that live for more than two years, providing agricultural output over multiple seasons without needing to be replanted annually.
Fossil Fuel
Natural fuels such as coal, oil, and natural gas, formed from the ancient remains of plants and animals and used for energy.
Soil Erosion
The removal of the top layer of soil at a faster rate than it is formed, due to natural processes like wind and water flow or human activities such as farming.
Soil Erosion
The displacement of the upper layer of soil, causing a loss of fertility and land degradation.
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