The May $2024$ revenue and cost information for Houston Outfitters, Inc. follows:

$($Click the icon to view the revenue and cost information.$)$

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 con costs? Explain. $($Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.$)$

Houston Outfitters, Inc.

Standard Cost Income Statement

For the Month Ended May $31,2024$

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Gross Profit