i Data Table je $61 - X 9 pounds per pot at a cost of $6.00 per Direct materials (resin) pound Direct labor.... 5.0 hours at a cost of $19.00 per hour Standard variable manufacturing overhead rate ..... $3.00 per direct labor hour Budgeted fixed manufacturing overhead . $50,000 Standard fixed MOH rate. I $8.00 per direct labor hour (DLH) Chic Design allocates manufacturing overhead to production based on standard direct labor hours. The cost of goods sold at standard cost totaled $265,200. IN Print Done Prepare a standard cost income statement for the company's management. Assume that sales were $624,000 and actual marketing and administrative expenses were $79,500. (Use a minus sign or parentheses for favorable variances.) E11-34A (similar to) Chic Design is a manufacturer of large flower pots for urban settings. The company has these standards: B (Click the icon to view the standards.) (Click the icon to view the actual results) (Click the icon to view related variances.) Chic Design Standard Cost Income Statement Month Ended 624000 Sales revenue at actual Cost of goods sold at standard cost 265200 Manufacturing cost variances! U/F DM price variance 2518U C C DM quantity variance 2340 DL rate variance (6890) F DL efficiency variance 7410 U Variable MOH rate variance 3445 U Variable MOH efficiency variance 1170 U Fixed MOH budget variance (300) F Fixed MOH volume variance (2000) F 769310 Total manufacturing variances Cost of goods sold (at actual) 351107 Gross profit (actual) Marketing and administrative expenses (79500) Operating income (loss) 27 1607