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During the month of April, the company manufactures 330 units and incurs the following actual costs. Compute the total, price, and quantity variances for materials and labor. Identify whether cach variance is favorable or unfavorable. Riverbed Industries uses a standard cost accounting system. During March, 2022, the company reported the following manufacturing variances: In addition, 16,400 units of product were sold at $18 pgr unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $16,400. Prepare an income statement for management for the month ending March 31, 2022. (Enter favorable variance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Cost of Goods Sold Gross Profit (at standard) Materials Quantity Net income/ (toss) Gross profit (actual) Selling and Administrative Expenses Sales Variances Total Variances