Fisk Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances.

Materials price variance		$1,200	U		Labor quantity variance		$750	U
Materials quantity variance		700	F		Overhead variance		700	U
Labor price variance		400	U

In addition, 8,000 units of product were sold at $7 per unit. Each unit sold had a standard cost of $3. Selling and administrative expenses were $7,000 for the month. Prepare an income statement for management for the month ended January 31, 2017.