eBook Income statement indicating standard cost variances Labels and Amount Descriptions Income Statement Instructions Mwili wa WHOITUCIUS Orgys wompany December Administrative expenses $100,800 550,000 1,680 (560) Cost of goods sold (at standard) Direct materials price variance-unfavorable Direct materials quantity variance favorable Direct labor rate variance-favorable Direct labor time variance-unfavorable Variable factory overhead controllable variance-favorable Fixed factory overhead volume variance-unfavorable Interest expense Sales (1,120) 490 (210) 3,080 2.940 868,000 Selling expenses 125.000 Prepare art income statement for presentation to management Enter all amounts as positive numbers except favorable variances. Use a minus son to indicate favorable variances. Refer to the list of Labels and Amount Descrotons for the exact wording of the answer choices for text entries Labels and Amount Descriptions Labels Less variances adjustments to gross profit at standard Operating expenses Other expense Amount Descriptions Administrative expenses Cost of goods sold-at standard Depreciation of plant and equipment Direct labor rate Direct labor time Direct materials price Direct materials quantity Instructions Labels and Amount Descriptions Fixed factory overhead volume Gross profit Gross profit-at standard Income before income tax Income from operations Insurance and property taxes Interest expense Loss before income tax Loss from operations Sales Selling expenses Ninten fenmetandard continuachia Prepare an income statement in - Income before income tax Income from operations Insurance and property taxes Interest expense Loss before income tax Loss from operations Sales Selling expenses Net variance from standard cost-unfavorable Variable factory overhead controllable incommon Griggs Company Income Statement For the Month Ended December 31 Unfavorable Favorable 6 Label Prepare an income statement for presentation to management Enter all amounts as posve numbers eXcent favorable variances Use a minus income Statement 3 9. 10 11 12 13 15 Label 15 17 Income Statement 15 14 15 Label) 16 17 19 Label 20