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 controlling costs? Explain. (Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive numbers.) Houston Outfitters, Inc. - X Data table Standard Cost Income Statement For the Month Ended May 31, 2024 Sales Revenue (at standard) $ 520,000 Cost of Goods Sold (at standard) 344,000 Direct Materials Cost Variance 600 F Direct Materials Efficiency Variance 6,500 F Direct Labor Cost Variance 4,700 U Direct Labor Efficiency Variance 2,200 F Variable Overhead Cost Variance 3,300 U Variable Overhead Efficiency Variance 1,500 U Fixed Overhead Cost Variance 2,500 U Fixed Overhead Volume Variance 8,600 F Print Done Gross Profit Has management done a good or poor job of controlling costs? Explain. Overall, Houston Outfitters management appears to have done a job at controlling costs. Total manufacturing variances areThe May 2024 revenue and cost information for Houston Outfitters, Inc. follows: fit. 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 numbers.) Cost of Goods Sold at actual Cost of Goods Sold at standard Direct Labor Cost Variance Direct Labor Efficiency Variance Direct Materials Cost Variance - X Data table Direct Materials Efficiency Variance Fixed Overhead Cost Variance Sales Revenue (at standard) $ 520,000 Cost of Goods Sold (at standard) 344,000 Fixed Overhead Volume Variance Direct Materials Cost Variance 600 F Manufacturing Cost Variances: Direct Materials Efficiency Variance 6,500 F Direct Labor Cost Variance 4,700 U Sales Revenue Direct Labor Efficiency Variance 2,200 F Variable Overhead Cost Variance 3,300 U Selling and Administrative Expenses Variable Overhead Efficiency Variance 1,500 U Total Manufacturing Cost Variances Fixed Overhead Cost Variance 2,500 U Fixed Overhead Volume Variance 8,600 F Variable Overhead Cost Variance Variable Overhead Efficiency Variance Print Done Gross Profit Has management done a good or poor job of controlling costs? Explain. Overall, Houston Outfitters management appears to have done a job at controlling costs. Total manufacturing variances are V