Zee Corporation was operating at 100% of capacity during its first month of operations with the following results:

Sales (160 units)		$204,000
Production costs (200 units):
Direct materials	$100,000
Direct labor	60,000
Variable factory overhead	40,000
Fixed factory overhead	1,000	201,000
Operating expenses:
Variable operating expenses	$ 12,000
Fixed operating expenses	2,000	14,000

What is the amount of the manufacturing margin that would be reported on the variable costing income statement?

Select one:

a. $44,000

b. $4,000

c. $30,000

d. $38,800