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Question

Find boothe may 2012 revenue and cost information for tulsa outfitters, inc., follows:

sales revenue $540000

costs of goods sold (standard) 341000

direct materials price variance 1000 F

direct materials efficiency variance 6200F

direct labor price variance 4300 U

direct labor efficiency variance 2200 F

variable overhead spending variance 3000U

fixed overhead volume variance 8500 F

fixed overhead spending variance 2500 U

variable overhead efficiency variance 800U

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... are the total manufacturing variances favorable or unfavorable

use a minus sign or parentheses for subtracting numbers

can you please fill in the blanks of the standard cost income statement

standard cost income statement:

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Manufacturing cost variances :

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Total manufacturing variances: ______

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Gross profit ______