Hart Labs, Inc. provides mad cow disease testing for both state and federal governmental agricultural agencies. Because the company's customers are governmental agencies, prices are strictly regulated. Therefore, Hart Labs must constantly monitor and control its testing costs. Shown below are the standard costs for a typical test. The lab does not maintain an inventory of test tubes. As a result, the tubes purchased each month are used that month. Actual activity for the month of November 2020 , when 1,100 tests were conducted, resulted in the following. Monthly budgeted fixed overhead is $16,560. Revenues for the month were $73,700, and selling and administrative expenses were $4,900. Prepare an income statement for management. HART LABS, INC. Income Statement $ Dividends Expenses Gross Profit (Actual) Gross Profit (at Standard) Net Income / (Loss) Attempts: 0 of 3 used Submit Answer Revenues Total Expenses Total Revenues Total Variance Variances Prepare an income statement for management. HART LABS, INC. Income Statement $ $