Wuestion Help The May 2024 revenue and cost information for Denver 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) Denver Outfitters, Inc. Standard Cost Income Statement For the Month Ended May 31, 2024 Sales Revenue Cost of Goods Sold at standard Manufacturing Cost Variances Direct Materials Cost Variance Direct Labor Cost Variance Direct Labor Emiciency Variance Variable Overhead Cost Variance Variable Overhead Efficiency Variance Fixed Overhead Cost Variance Fixed Overhead Volume Variance Total Manufacturing Cost Variances Cost of Goods Sold at actual Cost of Goods Sold at actual Carmen Proto Choose from any list or enter any number in the input fields and then continue to the next question X 2024 theid Data Table a stand magem amour It all standard cost sign or parenthese $ 590,000 341,000 verus Goods 600 F acturing Frect Ma 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 6,400 F 4,800 U irect Lall 2,100 F Direct Lai Variable 2,900 U 1,300 U Variable Fixed Ove Fixed Overhead Volume Variance 1,000 U 8,800 F Fixed Ove Total Man Print Done ast of Goods Sold at actual oss Profit as management done a good or poor job of controlling costs? Explain. werall, Denver Outfitters management appears to have done a job at controlling costs. Total manufac thoose from any list or enter any number in the input fields & good poor inue to the next question. est: Lesson 8 Homework 5 of 5 (4 complete) his Question: 15 pts The May 2024 (Click the Data Table Prepare a stand Has managem! all other amour It all standa sign or pare $ 590,000 341,000 Cost of Goods 600 F Manufacturing Direct Mal 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 Fixed Overhead Volume Variance Direct Lat Direct Lall 6,400 F 4,800 U 2.100 F 2.900 U 1,300 U 1,000 U 8,800 F Variable d Variable Fixed Ove Fixed Ove Total Man Print Done Cost of Goods Sold at actual Gross Profit Has management done a good or poor job of controlling costs? Explain. Overall, Denver Outfitters management appears to have done a job at controlling costs. TC C favorable or enter any number in the input fields and then continue to the next unfavorable