Fisk Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances. Materials price variance Materials quantity variance Labor price variance $1,230 U 780 F 540 U Labor quantity variance Overhead variance $770 U 700 U In addition, 8,650 units of product were sold at $8 per unit. Each unit sold had a standard cost of $3. Selling and administrative expenses were $7,040 for the month. Prepare an income statement for management for the month ended January 31, 2020 FISK COMPANY Income Statement Favorable Unfavorable Neither favorable nor unfavorable