Concord Industries uses a standard cost accounting system. During March, 2022, the company reported the following...

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Concord Industries uses a standard cost accounting system. During March, 2022, the company reported the following manufacturing variances: Materials price variance $3,400 F Materials quantity variance 4,200 U Labor price variance 2,400 U Labor quantity variance 4,000 U Overhead controllable 2,300 F Overhead volume 4,800 U In addition, 16,800 units of product were sold at $18 per unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $16,800. Prepare an income statement for management for the month ending March 31, 2022. (Enter favorable variance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CONCORDINDUSTRIES Income Statement $ +A $ Concord Industries uses a standard cost accounting system. During March, 2022, the company reported the following manufacturing variances: Materials price variance $3,400 F Materials quantity variance 4,200 U Labor price variance 2,400 U Labor quantity variance 4,000 U Overhead controllable 2,300 F Overhead volume 4,800 U In addition, 16,800 units of product were sold at $18 per unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $16,800. Prepare an income statement for management for the month ending March 31, 2022. (Enter favorable variance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CONCORDINDUSTRIES Income Statement $ +A $