Hi$-$Hi Corporation manufactures a computer monitor. Shown below is HI$-$HI's cost structure:

Variable cost per monitor

Total fixed cost for the year

Manufacturing cost

$ $75\mathrm{.}20$

$ $1,512,000$

Selling and administrative

$ $14\mathrm{.}60$

$ $456,000$

In its first year of operations, Hi$-$Hi produced $100,000$ monitors but only sold $95,000.$ Hi$-$Hi's contribution margin in this first year was $$3,100,000.$

Under variable costing, what is Hi$-$Hi's net operating income for its first year?

Group of answer choices

$2,066,000$

$1,132,000$

$1,261,000$

$3,230,900$