Oriole Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances: Materials price variance $1,220 U Labour quantity variance $940 U Materials quantity variance 770 F Overhead variance 870 U Labour price variance 550 U In addition, 7,000 units of product were sold at $10 per unit. Each unit sold had a standard cost of $7. Selling and administrative expenses were $8,400 for the month. Prepare an income statement for management for the month ended January 31, 2022. ORIOLE COMPANY Income Statement For the Month Ended January 31, 2022 1b 4?