Question 5:

Quality Fender, which uses a standard cost system, manufactured 20,000 boat fenders during 2024 . The 2024 revenue and cost information for Quality follows: (Click the icon to view the revenue and cost information.) Assume each fender produced was sold for the standard price of $40, and total selling and administrative costs were $550,000. Prepare a standard cost income statement for 2024 for Quality Fender. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Data table