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Flint Industries uses a standard cost accounting system. During March, 2022, the company reported the following manufacturing variances: Materials price variance $3,600 F Materials
Flint Industries uses a standard cost accounting system. During March, 2022, the company reported the following manufacturing variances: Materials price variance $3,600 F Materials quantity variance 4,400 U Labor price variance 2,600 U Labor quantity variance 4,200 U Overhead controllable 2,500 F Overhead volume 5,000 U In addition, 17,000 units of product were sold at $18 per unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $17,000. Prepare an income statement for management for the month ending March 31, 2022. (Enter favorable variance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) > > > > FLINTINDUSTRIES Income Statement $ $
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