Exercise 24-16 Fisk Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances. $1,220 U Labor quantity variance $870 U Materials price variance Materials quantity variance Labor price variance 740 F Overhead variance 510 U 840 U In addition, 9,000 units of product were sold at $9 per unit. Each unit sold had a standard cost of $5. Selling and administrative expenses were $7,060 for the m Prepare an income statement for management for the month ended January 31, 2020. FISK COMPANY Income Statement F E