Income Statement with Variances which is $100\%$ of normal capacity. which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank.

Alvarado Company

Income Statement Through Gross Profit

For the Month Ended March $31$

Line Item Description

Sales

Cost of goods sold$-$at standard

Gross profit$-$at standard

Variances from standard cost:

Direct materials price

Direct materials quantity

Direct labor rate

Direct labor time

Factory overhead controllable

Factory overhead volume

Net variances from standard cost$-$favorable

Amount Amount

Unfavorable Favorable

Amount

$

$

$

$

$$

$$

Gross profit