Lucky 7 Inc (L71) manufactures customized casino chips for casinos. It operates on a just-in-time basis meaning that the quantity it produces equals the quantity it sells. The following information pertains to its production for the year ending December 31, 2019: Direct Materials $250,000 Direct Labour $140,000 Variable Manufacturing OH $60,000 Fixed Manufacturing OH $165,000 Variable Selling and Admin $24,000 Fixed Selling and Admin $105,000 Research & Development Costs $18,000 Assuming that sales for the year were $980,000, what is the difference between the total gross margin and the contribution margin? There is no diference between the CM and the GM when the company operates a Justin Time System $141,000 $99,000 O $81,000