The May $2018$ revenue and cost information for Boise $$Outfitters$,$ Inc.$$ follows: Sales Revenue $($at standard$)$

$$590,000$

Cost of Goods Sold $($at standard$)$

$342,000$

Direct Materials Cost Variance

$1,000$ F

Direct Materials Efficiency Variance

$6,400$ F

Direct Labor Cost Variance

$4,000$ U

Direct Labor Efficiency Variance

$2,000$ F

Variable Overhead Cost Variance

$3,200$ U

Variable Overhead Efficiency Variance

$700$ U

Fixed Overhead Cost Variance

$2,500$ U

Fixed Overhead Volume Variance

$8,400$ 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.$)$ Boise Outfitters, Inc.

Standard Cost Income Statement

For the Month Ended May $31,2018$

Gross Profit