Question 24 Barselona Inc, determined its variances as follows for the month of March 2020: Materials price variance Labour quantity variance Materials quantity variance Overhead variance Labour price variance $3,310 U $935 U $925 F $665 U $545 U In addition, they made sales of $45,980 and incurred cost of goods sold of $23,500 at standard cost in March. Selling and administrative expenses were $15,870 for the month. Prepare an income statement for Barselona for the month ended March 31, 2020. BARSELONA INC. Income Statement For the Month Ended March 31, 2020 Total Variance - Favourable Total Variance - Unfavourable Variances