A business operated at 100% of capacity during its first month, with the following results: Sales (112 units) $560,000 Production costs (140 units): Direct materials $70,000 Direct labor 17,500 Variable factory overhead 31,500 Fixed factory overhead 28,000 147,000 Operating expenses: Variable operating expenses $5,920 Fixed operating expenses 3,460 9,380 What is the amount of the income from operations that would be reported on the variable costing income statement? a. $559,860 b. $458,880 c. $427,420 d. $550,620