Income Statement with Variances Bellingham Company produces a product that requires 2.5 standard pounds per unit at a standard price of $3.75 per pound. The company used 36,000 pounds to produce 15,000 units, which were purchased at $4.00 per pound. Each unit requires 4 standard direct labor hours per unit at a standard hourly rate of $20 per hour. For the 15,000 units produced, 61,800 hours were needed and employees were paid an hourly rate of $19.85 per hour. The company uses a standard variable overhead cost per unit of $0.90 per direct labor hour. Actual variable factory overhead was $52,770. The company uses a standard fixed overhead cost per unit of $1.15 per direct labor hour at 58,000 hours, which is 100% of normal capacity. Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. Assume Bellingham sold 15,000 units at $172 per unit. Enter all amounts as positive numbers. If an amount does not require an entry or is zero, enter "O". Bellingham Company Income Statement Through Gross Profit For the Month Ending March 31 Sales Cost of goods sold-at standard Gross profit-at standard Favorable Unfavorable Variances from standard cost: Direct materials price Direct materials quantity Direct labor rate Direct labor time