E23-22 Preparing a standard cost income statement The May 2016 revenue and cost information for Austin Outfitters, Inc. follows: Sales revenue (at standard): $580,000Cost of goods sold (at standard): 343,000Direct materials cost variance: 1,200 (F)Direct materials efficiency variance: 6000 (F)Direct labor cost variance: 4400 (U)Direct labor efficiency variance: 2000 (F)Variable overhead cost variance: 3000 (U)Variable overhead efficiency variance: 1500 (U)Fixed overhead cost variance: 1200 (U) Fixed overhead volume variance: 8200 (F)Prepare a standard cost income statement for management through gross profit. Report all standard cost variances for management to use. Has management done a good or a poor job of controlling costs? Explain.Please help me with this problem. I'm getting stuck. I have included the excel spreadsheet I need to fill out for this question. Thank you!

B C D E F G H - J AUSTIN OUTFITTERS, INC. Standard Cost Income Statement For the Month Ended May 31, 2016 Sales Revenue at Standard Provide below a comprehensive narrative answer below addressing the all four variances (a paragraph for each variance.) NOTE: "Alt and Enter" will put in a return within the cell, so do this twice to make paragraphs