day of the accounting period, the account balances include the following: Sales Revenue (Standard 150,000 Sales Revenue Variance 4,000 Cost of Goods Sold (standard) 78,000 Selling and Admin Expenses 60,000 Direct Materials Cost Variance 300 Direct Materials Efficiency Variance 25 Direct Labor Cost Variance 800 Direct Labor Eficiency Variance 70 Variable Overhead Cost Variance 200 Variable Overhead Eficiency Variance 800 Fixed Overhead Cost Variance 90 Fixed Overhead Volume Variance 15 Prepare a multi-step, standard cost income statement. (14 Points)