Assume Paterson Company reports sales of \($500,000,\) cost of goods sold (based on standard costs) of \($460,000\) for 2019. However, during the year the company also reports the following variances:

Note that positive numbers denote unfavorable variances. How would Paterson incorporate these variances in the income statement?

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Materials price variance. Materials efficiency variance Labor rate variance.. Labor efficiency variance. 6,000 (2.000) (9.000) (1,500) Variable overhead spending variance Variable overhead efficiency variance 11.000 (2,000)