The May 2018 revenue and cost information for Miami 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 expenses. Enter all other amounts as positive numbers.) Miami Outfitters, Inc. Standard Cost Income Statement Data Table - For the Month Ended May 31, 2018 $ 540,000 347,000 Sales Revenue (at standard) Cost of Goods Sold (at standard) Direct Materials Cost Variance Direct Materials Efficiency Variance Direct Labor Cost Variance 700 F 6,500 F 4,000 U 2,600 F 2,900 U Direct Labor Efficiency Variance Variable Overhead Cost Variance Variable Overhead Efficiency Variance Fixed Overhead Cost Variance 750 U 1,500 U Fixed Overhead Volume Variance 8,400 F Print Done Gross Profit