Saad Company uses a standard cost accounting system. During March, 2014, the company reported the following manufacturing variances:

In addition, 15,000 units of product were sold at $18 per unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $15,000.
Requirement Prepare a standard cost income statement for management for the month ending March 31, 2014.

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Materials price variance Materials quantity variance Labor price variance Labor quantity variance Overhead controllable Overhead volume $ 1,600 F 2,400 U 600 U 2,200 U 500 F 3,000 U Fe