The May 2018 revenue and cost information for Atlanta Outfitters, Inc. follows: E: (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 controlling costs? Explain. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Atlanta Outfitters, Inc. x Data Table Standard Cost Income Statement For the Month Ended May 31, 2018 $ 530,000 Sales Revenue (at standard) Cost of Goods Sold (at standard) 346,000 Direct Materials Cost Variance 600 F 6,200 F Direct Materials Efficiency Variance Direct Labor Cost Variance Direct Labor Efficiency Variance Variable Overhead Cost Variance 4,800 U 2,100 F 3,500 U 850 U Variable Overhead Efficiency Variance Fixed Overhead Cost Variance 2,400 U 8,700 F Fixed Overhead Volume Variance Print Done Gross Profit Has management done a good or poor job of controlling costs? Explain. Overall, Atlanta Outfitters management appears to have done a job at controlling costs. Total manufacturing variances are