Jorgensen Company Reported the Following Information About the Production and Sale

Jorgensen Company reported the following information about the production and sale of its only product during the first month of operations:
$$\begin{array} { l l } \text {Selling price per unit }&\$ 300\\\text {Sales }&\$ 480,000\\\text { Direct materials used}&\$ 220,000\\\text {Direct labor }&\$200,000 \\\text {Variable factory overhead}&\$60,000 \\\text {Fixed factory overhead }&\$80,000 \\\text {Variable selling and administrative expenses }&\$20,000 \\\text {Fixed selling and administrative expenses }&\$ 10,000\\\text {Ending inventory, Direct Materials }& 0\\\text {Ending inventory, Work-in-process }& 0\\\text {Ending inventory, Finished Goods }&400 \text { units } \\\end{array}$$
Under variable costing,the contribution margin is ________.

A) $20,000
B) $40,000
C) $76,000
D) $104,000