The May 2018 revenue and cost information for Boise Outfitters, Inc. follows:

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?

Has management done a good or poor job of controlling costs? Explain.

Overall, Boise Outfitters management appears to have done a________________ (good or poor) job at controlling costs. Total manufacturing Variances are ____________ (favorable or unfavorable).

S 520,000 Sales Revenue (at standard) Cost of Goods Sold (at standard) Direct Materials Cost Variance Direct Materials Efficiency Variance Direct Labor Cost Variance Direct Labor Efficiency Variance Variable Overhead Cost Variance Variable Overhead Efficiency Variance Fixed Overhead Cost Variance 345,000 1,200 F 6,000 F 4,100 U 1,900 F 3,400 U 1,500 U 2,400 U 8,500 F Fixed Overhead Volume Variance Boise Outfitters, Inc Standard Cost Income Statement For the Month Ended May 31, 2018 Gross Profit