Sheridan Entertainment Corporation prepared a master budget for the month of November that was based on sales of 180,800 board games. The budgeted income statement for the period is as follows. Sales Revenue Variable expenses Direct materials $3,073,600 $885,920 Direct labor 325,440 Variable overhead 488,160 Total variable expenses 1,699,520 Contribution margin 1,374,080 Fixed overhead 227,000 Fixed selling and administrative expenses 437,000 Total fixed expenses 664,000 Operating Income $710,080 During November, Sheridan produced and sold 157,000 board games. Actual results for the month are as follows Sales Revenue Variable expenses $2,572,000 Direct materials $758,100 Direct labor 269,000 Variable overhead 413,700 Total variable expenses 1,440,800 Contribution margin 1.131.200 Fixed overhead 214.000 Fixed selling and administrative expenses 452,000 Total fixed expenses 666,000 Operating income $465.200