Bellingham Company produces a product that requires $2\mathrm{.}5$ standard pounds per unit at a standard price of $$3\mathrm{.}75$ per pound. The company used $36,000$ pounds to produce $15,000$ units, Prepare an income statement through gross profit for Bellingham Company for the month ending March $31.$ Assume Bellingham sold $15,000$ units at $$172$ per unit. Enter a favorable

variance as a negative number using a minus sign and an unfavorable variance as a positive number.

which were purchased at $$4\mathrm{.}00$ per pound. Each unit requires $4$ standard direct labor hours per unit at a standard hourly rate of $$20$ per hour. For the $15,000$ units produced, $61,800$ hours

were needed and employees were paid an hourly rate of $$19\mathrm{.}85$ per hour. The company uses a standard variable overhead cost per unit of $$0\mathrm{.}90$ per direct labor hour. Actual variable

factory overhead was $$52,770.$ The company uses a standard fixed overhead cost per unit of $$1\mathrm{.}15$ per direct labor hour at $58,000$ hours, which is $100\%$ of normal capacity.

Required:

Prepare an income statement through gross profit for Bellingham Company for the month ending March $31.$ Assume Bellingham sold $15,000$ units

at $$172$ per unit. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.