oot manufactures coffee mugs that it sells to other companies for customizing with their own logos (Click the icon to view the cost data) ctual cost and production information for July 2024 follows (Click the icon to view actual cost and production information.) oof's standard and actual sales price per mug is 58 Root calculated the following variances and recorded the flowing entries for July 2024 (Click the icon to view variances) Click the icon to view journals) Prepare the standard conding income statement for July 2024 (he a mini sign or parenth any contra expenses and/or an operating loss Enter at the maps) Sales Revenue Cost of Goods Sold at standard Manufacturing Cost Variances Root Standard Cost Income Statement For the Month Ended July 31, 2024 Direct Materials Cost Variance Direct Materials Efficiency Variance: Variable Overhead Efficiency Variance Variable Overhead Cost Variance 59.375 (800) (625) $ 500.000 Clear all Final check