Use the following information to prepare a standard cost income statement for Mitchell Company for 2018. Cost

Use the following information to prepare a standard cost income statement for Mitchell Company for 2018.

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Cost of Goods Sold (at standard) Sales Revenue (at standard) Direct Materials Cost Variance Direct Materials Efficiency Variance Direct Labor Cost Variance Direct Labor Efficiency Variance $ 19,500 F 3,300 U 12,500 F $ 366,000 Variable Overhead Efficiency Variance Fixed Overhead Volume Variance Selling and Administrative Expenses Variable Overhead Cost Variance 570,000 7,200 U 2,700 U 42,000 U 71,000 1,700 F Fixed Overhead Cost Variance 2,100 F