E24-10 European Cuisine. Inc., revenue and expense information for the month of April follows. Sales revenue $440.000 Cost of good sold (standard). 242.000 Direct materials price variance 2.000 F Direct materials efficiency variance: 4.000 F Direct labor price variance.... 3.000 U Direct labor efficiency variance 2,000 F Overhead flexible budget variance. Production volume variance 2,500 U 6.000 F Prepare a standard cost income statement for management through gross profit. Report all standard cost variances for management's use. Has management done a good or poor job of controlling costs? Explain.