Prepare an income statement for the year ended December 31 through the gross profit for Baxter Company using the following information. Baxter Company sold 9,000 units at $130 per unit. Normal production is 9,400 units. (Do not round the fixed overhead rate computation when determining the fixed factory overhead volume variance. Enter favorable variances as negative numbers.) Standard: 5 yards per unit at $6.30 per yard Actual yards used: 45,760 yards at $6.25 per yard Standard: 2.00 hours per