ork B - Graded Question 7, EM6-24 (similar to) HW Score: 33.24%, 11.3 of 34 points O Points: 0 of 6 Save Best Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2024. The 2024 revenue and cost information for Best follows (Click the icon to view the revenue and cost information.) Assume each fender produced was sold for the standard price of $40, and total selling and administrative costs were $150,000. Prepare a standard cost income statement for 2024 for Best Fender (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Gross Profit Operating Income (Loss) Best Fender Standard Cost Income Statement For the Year Ended December 31, 2024 Sales Revenue Cost of Goods Sold (at standard) $ 89 800,000 198,500 Direct materials cost variance 7,650 F Direct materials efficiency variance 5,350 U Direct labor cost variance 410 U Direct labor efficiency variance 600 F Variable overhead cost variance 850 U Variable overhead efficiency variance 460 F Fixed overhead cost variance 2,410 U Fixed overhead volume variance 4,710 U