Pharoah Manufacturing Ltd. has provided you with the following CVP income statement. Sales (1,170 units) $783,900 Variable costs: Cost of goods sold 356,499 Selling expenses 70,200 Administrative expenses 51,480 Contribution margin 305,721 Fixed costs: Cost of goods sold 155,610 Selling expenses 44,460 Administrative expenses 28,080 Operating income $77,571