Cepeda Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances.

In addition, 8,000 units of product were sold at $8.00 per unit. Each unit sold had a standard cost of $6.00. Selling and administrative expenses were $6,000 for the month.InstructionsPrepare an income statement for management for the month ended January 31,2010.

Transcribed Image Text:

Materials price variance Materials quantity variance Labor price variance Labor quantity variance Overhead variance $ 725 U $1,250 U 700 F 800 U 525 U