Use the following information to prepare a standard cost income statement for Mitchell Company for $2018.($Use a minus sign or parentheses to enter any contra expenses. Enter all other amounts as positive$$ numbers.$)$

Cost of Goods Sold $($at standard$)$

$$366,000$

Direct Labor Efficiency Variance

$$19,500$ F

Sales Revenue $($at standard$)$

$570,000$

Variable Overhead Efficiency Variance

$3,300$ U

Direct Materials Cost Variance

$7,200$ U

Fixed Overhead Volume Variance

$12,500$ F

Direct Materials Efficiency Variance

$2,700$ U

Selling and Administrative Expenses

$71,000$

Direct Labor Cost Variance

$42,000$ U

Variable Overhead Cost Variance

$1,700$ F

Fixed Overhead Cost Variance

$2,100$ F

Mitchell Company

Standard Cost Income Statement

For the Year Ended December $31,2018$

Gross Profit

Operating Income