he tollowing data were taken Trom the records ofr Griggs Company ror December 2016 Administrative expenses Cost of goods sold (at standard) Direct materials price variance-unfavorable Direct materials quantity variance-favorable Direct labor rate variance-favorable Direct labor time variance-unfavorable Variable factory overhead controllable variance-favorable Fixed factory overhead volume variance-unfavorable Interest expense Sales Selling expenses $100,800 550,000 1,680 560 1,120 490 210 3,080 2,940 868,000 125,000 Prepare an income statement for presentation to management. Enter all amounts as positive numbers except favorable variances. Use a minus sign to indicate favorable variances. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries