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Hi, Please help me with the income statement. ***Prepare an income statement for management.*** * Overhead is applied on the basis of standard machine hours.

Hi, Please help me with the income statement.

***Prepare an income statement for management.***

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Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. The jobs were sald for $500,000. Selling and administrative expenses were $41,400. Assume that the amount af ram materials purchased onualod tho amount uscd. Campute all of the variances for (1); direct materials and (2) direct labor. (Round per unit values to 2 decimol ploces, eg. 52.75 and final answers to 0 decimal ploces, eg. 52. Compute the total overhead variance. Total werhead wariance $ Prepare an income statement for management. IIgnare income taxes.] (Round per unit values to 2 decimal ploces, eg. 52.75 and final onswers to 0 decimal ploces, eg. 52J

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