minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Use the following information to prepare standard cost income statement for Longman Company for 2018. (Use E: (Click the icon to view the information.) C. Longman Company Standard Cost Income Statement For the Year Ended December 31, 2018 Sales Revenue Data Table $ $19,000 F Cost of Goods Sold at standard Manufacturing Cost Variances: Direct Materials Cost Variance Direct Materials Efficiency Variance Direct Labor Cost Variance Direct Labor Efficiency Variance Variable Overhead Cost Variance Cost of Goods Sold (at standard) Sales Revenue (at standard) Direct Materials Cost Variance 368,000 Direct Labor Efficiency Variance 540,000 Variable Overhead Efficiency Variance 7,800 U Fixed Overhead Volume Variance 2,200 U Selling and Administrative Expenses 47,000 U Variable Overhead Cost Variance 3,000 U 12,400 F 78,000 Direct Materials Efficiency Variance Direct Labor Cost Variance Fixed Overhead Cost Variance 1,500 F 2,200 F Variable Overhead Efficiency Variance Fixed Overhead Cost Variance Fixed Overhead Volume Variance Print Done Total Manufacturing Cost Variances Cost of Goods Sold at actual Gross Profit Selling and Administrative Expenses Operating Income