Grand Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2018. The 2018 revenue and cost information for Grand follows: (Click the icon to view the revenue and cost information.) Assume each fender produced was sold for the standard price of $70, and total selling and administrative costs were $150,000. Prepare a standard cost income statement for 2018 for Grand Fender. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) x Data Table $ 1,400,000 Grand Fender Standard Cost Income Statement For the Year Ended December 31, 2018 Sales Revenue Cost of Goods Sold at standard Manufacturing Cost Variances: Direct Materials Cost Variance Direct Materials Efficiency Variance Direct Labor Cost Variance Direct Labor Efficiency Variance Variable Overhead Cost Variance Variable Overhead Efficiency Variance Fixed Overhead Cost Variance 191,240 7,550 F 5,450 U 460 U Sales Revenue Cost of Goods Sold (at standard) Direct materials cost variance Direct materials efficiency variance Direct labor cost variance Direct labor efficiency variance Variable overhead cost variance Variable overhead efficiency variance Fixed overhead cost variance Fixed overhead volume variance 520 F 690 U 300 F 2.950 U Fixed Overhead Volume Variance Total Manufacturing Cost Variances 4,160 U Cost of Goods Sold at actual Print Done Gross Profit Selling and Administrative Expenses Operating Income (Loss)