Best Fender, which uses a standard cost system, manufactured 20,000 boat fonders during 2024. The 2024 revenue and cost information for Best follow (Click the icon to view the revenue and cost information.) Assume each fonder produced was sold for the standard price of $35, and total selling and administrative costs were $450,000. Prepare a standard cost contra expenses. Enter all other amounts as positive numbers.) Best Fender Standard Cost Income Statement For the Year Ended December 31, 2024 Gross Profit moat fonders during 2024. The 2024 revenue and cost information for Best follows: d total selling and administrative costs were $450,000. Prepare a standard cost income statement for 2024 for Best Fender (Une a minus sign or parentheses to enter any For the Year Ended December 31, 2024 Gross Profit Operating Incomo (Loss) i i Data Table X Sales Revenue $ 700,000 Cost of Goods Sold (at standard) 191,240 Direct materials cost variance 7,850 F Direct materials efficiency variance 5,850 U Direct labor cost variance 410 U 510 F Direct labor efficiency variance Variable overhead cost variance Variable overhead efficiency variance Fixed overhead cost variance 820 U 450 F 2,560 U Fixed overhead volume variance 4,160 U Print Done