At the Beginning of 2015, Conway Manufacturing Had the Following

At the beginning of 2015, Conway Manufacturing had the following account balances: Following additional details are provided for the year: $\begin{array}{|l|l|}\hline\text { Direct materials placed in production } & \$ 80,000 \\\hline \text { Direct labor incurred } & 190,000 \\\hline \text { Manufacturing overhead incurred } & 300,000 \\\hline \text { Manufacturing overhead allocated to production } & 295,000 \\\hline \text { Cost of jobs completed and transferred } & 500,000 \\\hline \text { Total revenue } & 750,000 \\\hline \text { Cost of goods sold } & 440,000\\\hline\end{array}$ Calculate the gross profit will Conway report for the year 2015.

A) $315,000
B) $305,000
C) $310,000
D) $345,000