$ 1,100,000 194,100 7,050 F 5,450 U 490 U Sales Revenue Cost of Goods Sold (at standard) Direct materials cost variance Direct materials efficiency variance Direct labor cost variance Direct labor efficiency variance Variable overhead cost variance Variable overhead efficiency variance Fixed overhead cost variance 500 F 690 U 420 F 2.830 U 4,690 U Fixed overhead volume variance Print Done or enter any number in the input fields and then click Check Answer Clear All 31 All-Star Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2024. The 2024 revenue and cost information for All - Star follows: Click the icon to view the revenue and cost information.) Assume each fender produced was sold for the standard price of $55, and total selling and administrative costs were $450,000. Prepare a standard cost income statement for 2024 for All-Star Fender. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) 5,450 490 Direct Materials Efficiency Variance Direct Labor Cost Variance Direct Labor Efficiency Varance Variable Overhead Cost Variance Variable Overhead Efficiency Variance Fixed Overhead Cost Variance Fixed Overhead Volume Variance Total Manufacturing Cost Variances Cost of Goods Sold at actual Gross Profit Selling and Administrative Expenses (500) 690 (420) 2,830 4,690 6,280 Operating Income (Loss)