Current Attempt in Progress Sunland Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances: Materials price variance $1,340 U Labour quantity variance $910 U Materials quantity variance 850 F Overhead variance 770 U Labour price variance 530 U In addition, 7,200 units of product were sold at $10 per unit. Each unit sold had a standard cost of $7. Selling and administrative expenses were $7,200 for the month. Prepare an income statement for management for the month ended January 31, 2022. SUNLAND COMPANY Income Statement For the Month Faded January 21 3032