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	$5,680
Fixed operating expenses	3,550	9,230

What is the amount of the income from operations that would be reported on the variable costing income statement?

a. $559,860

b. $427,570

c. $550,770

d. $459,120