E$4$ Q$20$ Elegance is a manufacturer of large flowerpots for urban settings. The company has these standards:

View the standards.

Last month, the company reported the following actual results for the production of $1,200$ flowerpots:

Standard Price and Volume

View the actual results.

View the related variances.

Read the requirement.

Elegance

Standard Costing Income Statement

Month Ended

Manufacturing cost variances: U$/$F

Total manufacturing variances

Gross profit $($actual$)$

Operating income $($loss$)$

Requirement

Prepare a standard cost income statement for the company's management.

E$4$ Q$20$ Assume that sales were $$564,000$ and actual marketing and administrative

expenses were $$78,500.($Use a minus sign or parentheses for favorable

variances.$)$

Actual Results

Variances