Gabuat Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price$164 Units in beginning inventory 0 Units produced 3,700 Units sold 3,260 Units in ending inventory 440

Variable costs per unit: Direct materials$51Direct labor$32Variable manufacturing overhead$6Variable selling and administrative expense$6Fixed costs: Fixed manufacturing overhead$88,800Fixed selling and administrative expense$32,600

The total gross margin for the month under the absorption costing approach is:

Multiple Choice

$121,400

$166,260

$146,700

$280,360