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
VariancesSelling and Administrative ExpensesCost of Goods SoldTotal VariancesNet Income / (Loss)SalesGross Profit (at standard)Materials QuantityGross profit (actual)				$
SalesCost of Goods SoldMaterials QuantityTotal VariancesVariancesGross Profit (at standard)Selling and Administrative ExpensesNet Income / (Loss)Gross profit (actual)
Total VariancesMaterials QuantityGross profit (actual)Selling and Administrative ExpensesNet Income / (Loss)Cost of Goods SoldVariancesSalesGross Profit (at standard)
Overhead VolumeMaterials PriceTotal VariancesVariancesMaterials QuantityLabor PriceLabor QuantityOverhead Controllable
Labor Price Materials Price Overhead Volume Variances Materials Quantity Labor Quantity Total Variances Overhead Controllable		$
Variances Materials Price Materials Quantity Labor Price Overhead Volume Labor Quantity Overhead Controllable Total Variances
Materials Quantity Labor Price Overhead Volume Total Variances Labor Quantity Overhead Controllable Variances Materials Price
Total Variances Overhead Controllable Overhead Volume Variances Materials Price Materials Quantity Labor Price Labor Quantity
Variances Materials Price Overhead Volume Total Variances Materials Quantity Labor Price Labor Quantity Overhead Controllable
Labor Price Labor Quantity Materials Quantity Overhead Volume Variances Materials Price Overhead Controllable Total Variances
Materials Quantity Variances Labor Price Materials Price Overhead Volume Labor Quantity Overhead Controllable Total Variances
Selling and Administrative ExpensesNet Income / (Loss)Total VariancesSalesMaterials QuantityGross profit (actual)Cost of Goods SoldGross Profit (at standard)Variances
Total VariancesGross profit (actual)Materials QuantityVariancesSalesSelling and Administrative ExpensesNet Income / (Loss)Cost of Goods SoldGross Profit (at standard)
Total VariancesSelling and Administrative ExpensesGross profit (actual)Cost of Goods SoldMaterials QuantitySalesGross Profit (at standard)Net Income / (Loss)Variances				$