Sheridan Entertainment Corporation prepared a master budget for the month of November that was based on sales of 157,400 board games. The budgeted income statement for the period is as follows Sales Revenue Variable expenses $2,675,800 $708,300 251,840 424,980 Direct materials Direct labor Variable overhead Total variable expenses Contribution margin 1,385,120 1,290,680 Fixed overhead 254,000 507,500 Fixed selling and administrative expenses Total fixed expenses Operating income 761,500 $529,180 During November, Sheridan produced and sold 183,000 board games. Actual results for the month are as follows Sales Revenue Variable expenses $3,100,200 Direct materials Direct labor Variable overhead $813,400 307,000 506,100 Total variable expenses Contribution margin 1,626,500 1,473,700