Marigold Industries uses a standard cost accounting system. During March, 2022, the company reported the following manufacturing variances:

Materials price variance $2,400 F

Materials quantity variance 3,200 U

Labor price variance 1,400 U

Labor quantity variance 3,000 U

Overhead controllable 1,300 F

Overhead volume 3,800 U

In addition, 15,800 units of product were sold at $18 per unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $15,800.

Prepare an income statement for management for the month ending March 31, 2022. (Enter favorable variance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)