Question 12 of 12 - / 8 III Current Attempt in Progress Carlos Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances: Materials price variance $1.140 U Labour quantity variance $900 U Materials quantity variance Overhead variance 740U Labour price variance 450 u 770F In addition, 7.000 units of product were sold at $10 per unit. Each unit sold had a standard cost of $7. Selling and administrative expenses were $7.200 for the month. Prepare an income statement for management for the month ended January 31, 2020. CARLOS COMPANY Income Statement For the Month Ended January 31, 2020 $ $ $ Question 12 of 12 - / 8 III Current Attempt in Progress Carlos Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances: Materials price variance $1.1400 Labour quantity variance $900 Materials quantity variance 770F Overhead variance 740U Labour price variance 4500 In addition, 7.000 units of product were sold at $10 per unit. Each unit sold had a standard cost of $7. Selling and administrative expenses were $7.200 for the month. Prepare an income statement for management for the month ended January 31, 2020. CARLOS COMPANY Income Statement For the Month Ended January 31, 2020 $ $ $