The May 2018 revenue and cost information for Houston 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? Explain. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.)

The May 2018 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 controlling costs? Explain. (Use a minus sign or parentheses to enter any contra exponsos. Entor all other amounts as positive numbers.) NUUS VULNES, Standard Cost Income Statement A Data Table For the Month Ended May 31, 2018 - X 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 Varlance Variable Overhead Efficiency Variance Fixed Overhead Cost Variance Fixed Overhead Volume Variance $ 600,000 342,000 700 F 6,100 F 4,300 U 2.000 F 3,100 U 900 U 1,200 U 8.500 F Print Done Gross Profit