Sales Revenue (at standard) 520,000 Cost of Goods Sold (at standard) 345,000 1,000 F Direct Materials Cost Variance Direct Materials Efficiency Variance 6,700 F Direct Labor Cost Variance 4,400 U Direct Labor Efficiency Variance 2,400 F Variable Overhead Cost Variance 3,700 U Variable Overhead Efficiency Variance 900 U Fixed Overhead Cost Variance 1,400 U Fixed Overhead Volume Variance 8,100 F Prepare a standard cost income statement for management through gross profit. Report all standard cost variances for management's use. Has management done a good or poor job of controlling costs? Explain. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Albany Outfitters, Inc. Standard Cost Income Statement For the Month Ended May 31, 2018 Gross Profit Has management done a good or poor job of controlling costs? Explain. Overall, Albany Outfitters management appears to have done a job at controlling costs. Total manufacturing variances are Choose from any list or enter any number in the input fields and then continue to the next