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FlowerMate is a manufacturer of large flower pots for urban settings. The company has these standards: IIt (Click the icon to view the standards.) (Click the icon to view the actual results.) (Click the icon to view related variances.) Prepare a standard cost income statement for the company's management. Assume that sales were $1,020,000 and actual marketing and administrative expenses were $77,500. (Use a minus sign or parentheses for fvorable variances.) Data Table: Direct materials (resin) Direct labor 8 pounds per pot at a cost of $4.00 per pound 2.0 hours at a cost of $15.00 per hour .\$4.00 per direct labor hour $28,000 \$8.00 per direct labor hour (DLH) FlowerMate allocates manufacturing overhead to production based on standard direct labor hours. The cost of goods sold at standard cost totaled $172,000. Last month, the company reported the following actual results for the production of 2,000 flower pots: Purchased 17,300 pounds at a cost of $4,40 per pound Direct materials. Direct labor Actual variable manufacturing overhead used 16,600 pounds to produce 2,000 pots Worked 2.3 hours per flower pot (4,600 total DLH) at a cost of $14.00 per hour $4.40 per direct labor hour for total actual variable manufacturing overhead of $20,240 Actual fixed manufacturing overhead $27,800 Standard fixed manufacturing overhead allocated based on actual production. $32,000 DirectmaterialspricevarianceDirectmaterialsquantityvarianceDirectlaborratevarianceDirectlaborefficiencyvarianceVariableMOHratevarianceVariableMOHefficiencyvarianceFixedMOHbudgetvarianceFixedMOHvolumevariance$6,920U$2,400U$4,600F$9,000U$1,840U$2,400U$200F$4,000F FlowerMate Standard Cost Income Statement Month Ended Manufacturing cost variances: U/F . Total manufacturing variances Gross profit (actual) Operating income (loss) FlowerMate Standard Cost Income Statement Month Ended Sales revenue at actual Cost of goods sold at standard cost Manufacturing cost variances: U/F

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