Quality Fender, which uses a standard cost system, manufactured $20,000$ boat fenders during $2024.$ The $2024$ revenue and cost information for Quality follows: duced was sold for the standard price of $$75,$ and total selling and administrative costs were $$200,000.$ Prepare a star

gn or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.$)$

Data table

$($Click the icon to view the revenue and cost information.$)$

Assume each fender produced was sold for the standard price of $$75,$ and total selling and administrative costs were $$200,000.$ Prepare a standard cost income statement for $2024$ for

Fender. $($Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.$)$

Quality Fender

Standard Cost Income Statement

For the Year Ended December $31,2024$

$$

Gross Profit

Operating Income $($Loss$)$