Please complete the following.

Save Homework: Chapter 23 HW B Score: 0 of 1 pt 5 of 5 (1 complete) HW Score: 20%, 1 of 5 pts E23-22 (similar to) Question Help The May 2018 revenue and cost information for Miami Outfitters, Inc. follows: (Click the icon to view the revenue and cost information.) Prepare a standard cost income statement for management through gross profit. Report all standard cost variances for management's use. Has management done a good or poor job of controlling costs? Explain. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Miami Outfitters, Inc. Standard Cost Income Statement For the Month Ended May 31, 2018 Choose from any list or enter any number in the input fields and then click Check Answer 1 part Clear All Check Answer remaining Data Table Sales Revenue (at standard) $ 550,000 Cost of Goods Sold (at standard) 344,000 Direct Materials Cost Variance 1,000 F Direct Materials Efficiency Variance 5,900 F Direct Labor Cost Variance 4,800 U Direct Labor Efficiency Variance 2,500 F Variable Overhead Cost Variance 3,300 U Variable Overhead Efficiency Variance Fixed Overhead Cost Variance 1,300 U 1,300 U Fixed Overhead Volume Variance 8,700 F Print Done