Help Save & Exdi Check London Company's Forest City Plant produces precast ingots for industrial use. Anne-Marie Gosnell, who was recently appointed general manager of the Forest City Plant, has just been handed the plant's income statement for October. The statement is shown below. Gosnell was shocked to see the poor results for the month, particularly since sales were exactly as budgeted. She stated. " the plant has a standard costing system in operation. If it doesn't I won't have the slightest idea of where to start lookinn problem." Budgeted $125,000 Actual $125,000 Sales (2,580 ingots) Variable expensest Variable cost of goods sold" Variable selling expenses Total variable expenses Contribution margin 20,425 10,000 25, 530 10,000 30,425 94,575 35.53e 59.470 Fixed expenses: Hanufacturing overhead Selling and administrative 30,000 37,500 -9.500 Total fixed expenses operating income (loss 67.009 27,075 5 28,476 ere to search o e * (hp