The accounting records for Grant Manufacturing Company included the following cost information relating to its first year of operations: Direct materials Direct labor Fixed manufacturing overhead $22,500 $55,000 $35,000 Variable manufacturing overhead $25,000 Assume the company produced 10,000 units of inventory and sold 7,500 of these units during the year for $131,250. Under variable costing, what is the contribution margin for the year? (Ignore selling and administrative expenses.)