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A business operated at 100% of capacity during its first month, with the following results: Sales (96 units) Production costs (120 units): $480,000 Direct materials $60,000 Direct labor Variable factory overhead 15,000 27,000 Fixed factory overhead 24,000 126,000 Operating expenses: Variable operating expenses Fixed operating expenses $6,090 No 4,300 10,390 What is the amount of the income from operations that would be reported on the variable costing income statement? a. $392,310 b. $469,610 c. $364,010 d. $479,880