Please help with problem 3c. I have worked out the other problems on the assignment but just need help with that specific section
Comprehensive: Master Budgets, Variances, Performance Evaluation Sudsy Days sold 7000 Soap jugs in 2019, and its actual operating income was as follows: Sudsy Days Balance Sheet December 31, 2019 $ 630,000 $ 94,890 36,540 131,430 498,570 Net Sales Revenue Cost of Goods Sold: Variable Fixed Gross Profit Selling & Admin Expenses: Variable Fixed Operating Income Other income and (Expenses): Interest Expense Income Before Income Taxes Income Tax Expense Net Income 12,600 61,400 74,000 424,570 (425) 424,145 22,000 402,145 $ Comprehensive: Master Budgets, Variances, Performance Evaluation During 2019, Sudsy Soap recorded the following cost data: $ Standard Cost Information Quantity Cost Direct Materials 3 lbs per jug $2 per lb Direct Labor 0.30 hours per jug $12 per hour Variable MOH 0.30 hours per jug $12 per hour Fixed MOH Static Budget Amount: $ 38,340 0.30 hours per jug 21.00 per hour 1 2 Actual Cost Information 3 Direct Materials 20,700 lbs $ 2.50 per 1b 4 Direct Labor 2,060 hours $ 12.40 per hour 5 Variable MOH 2,060 hours S 11.60 per hour 6 Fixed MOH $36,540 7 8 3a. Compute the cost and efficiency variances for direct materials and direct labor. 9 0 3b. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed 1 overhead cost and volume variances. 2 3 3c. Prepare the standard cost income statement for 2019. 3a. Compute the cost and efficiency variances for direct materials and direct labor. F/U DM Cost Variance: 10,350 V DM Efficient Variance: F/U 600 F DL Cost Variance: 824 U DL Efficiency Variance: 480 F 3b. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. F/U 824 F F/U 480 F VOH Cost Variance: VOH Efficient Variance: FOH Cost Variance: 1,800 F VOH Volume Variance: 4920 F 3c. Prepare the standard cost income statement for 2019. Sudsy Days Standard Cost Income Statement For the Year Ended December 31, 2019 Net Sales Revenue @ Standard COGS @ Standard Manufacturing Cost Variances: DM Cost Variance DM Efficiency Variance DL Cost Variance DL Efficiency Variance VOH Cost Variance VOH Efficiency Variance FOH Cost Variance FOH Volume Variance Total Manufacturing Cost Variances COGS @ Actual cost Gross Profit S&A Expenses: Variable Fixed Operating Income