A business operated at 100% of capacity during its first month, with the following results: Sales (96 units)   $480,000 Production costs (120 units):        Direct materials $60,000        Direct labor 15,000        Variable factory overhead 27,000    Fixed factory overhead 24,000 126,000 Operating expenses:        Variable operating expenses $5,690        Fixed operating expenses 3,830 9,520 The amount of contribution margin that would be reported on the variable costing income statement is a.$479,880 b.$470,480 c.$388,880 d.$392,710

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