Pepper Industries uses a standard cost accounting system. During March, 2019, the company reported the following manufacturing variances:

Materials price variance		$1,600	F
Materials quantity variance		2,400	U
Labor price variance		600	U
Labor quantity variance		2,200	U
Overhead controllable		500	F
Overhead volume		3,000	U

In addition, 15,000 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 $15,000. Prepare an income statement for management for the month ending March 31, 2019. (Enter favorable variance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

PEPPER INDUSTRIES Income Statement For the Month Ended March 31, 2019
Total VariancesVariancesSalesMaterials QuantitySelling and Administrative ExpensesCost of Goods SoldNet Income / (Loss)Gross profit (actual)Gross Profit (at standard)				$
Gross Profit (at standard)Cost of Goods SoldVariancesSalesNet Income / (Loss)Selling and Administrative ExpensesTotal VariancesMaterials QuantityGross profit (actual)
Selling and Administrative ExpensesCost of Goods SoldGross profit (actual)Gross Profit (at standard)Total VariancesVariancesMaterials QuantitySalesNet Income / (Loss)
Overhead ControllableMaterials QuantityOverhead VolumeTotal VariancesLabor PriceLabor QuantityVariancesMaterials Price
Labor Price Labor Quantity Materials Quantity Overhead Controllable Overhead Volume Variances Total Variances Materials Price		$
Total Variances Materials Price Variances Labor Price Labor Quantity Materials Quantity Overhead Controllable Overhead Volume
Materials Price Materials Quantity Labor Price Labor Quantity Overhead Controllable Variances Overhead Volume Total Variances
Total Variances Overhead Volume Labor Price Overhead Controllable Materials Price Labor Quantity Variances Materials Quantity
Materials Price Total Variances Overhead Controllable Variances Materials Quantity Labor Price Labor Quantity Overhead Volume
Overhead Volume Materials Price Total Variances Variances Labor Quantity Labor Price Overhead Controllable Materials Quantity
Overhead Controllable Variances Overhead Volume Labor Quantity Materials Price Materials Quantity Labor Price Total Variances
Total VariancesMaterials QuantityCost of Goods SoldGross profit (actual)Net Income / (Loss)SalesSelling and Administrative ExpensesVariancesGross Profit (at standard)
Selling and Administrative ExpensesNet Income / (Loss)VariancesTotal VariancesSalesMaterials QuantityGross profit (actual)Cost of Goods SoldGross Profit (at standard)
SalesGross profit (actual)Selling and Administrative ExpensesCost of Goods SoldVariancesGross Profit (at standard)Net Income / (Loss)Total VariancesMaterials Quantity				$