Income statement with variances Bellingham Company produces a product that requires 2.5 standard pounds per unit at a standard price of $3.40 per pound. Assume Bellingham sold 10,000 units at $160 per unit. The company used 34,000 pounds to produce 18,000 units, which were purchased at $3.65 per pound. Each unit requires standard direct labor hours per unit at a standard hourly rate of $19.80 per hour. For the 18,000 units produced, 63,000 hours were needed and employees were paid an hourly rate of $19.65 per hour. The company unes a standard variable overhead cost per unit of $0.80 per direct labor hour. Actual variable factory overhead was $31.440. The company uses a standard foxed overhead cost per unit of $1.05 per direct labor hour at 41,000 hours, which is 100% of normal capacity This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank Bellingham Company Income Statement through Gross Profit For the Month Ended March 31 Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. For the boxes in which you must entertractive or negative numbers use a minus in If an amount box does not require an entry leave it blank Bellingham Company Income Statement through Gross Profit For the Month Ended March 31 Sales X Cost of goods soldat standard Grous profitot standard Favorable Unfavorable Vanances from standard coat Direct matemals nice Det materials quantity Direct laborate Direct labor time Factory overhead controllable Factory overhead volume Net vanances from standard cost- unfavorable Grosso