Materials price variance Labour quantity variance Materials quantity variance Overhead variance Labour price variance $3,310 U $940 U $935 F $680 U $500 U In addition, they made sales of $45,770 and incurred cost of goods sold of $23,680 at standard cost in March. Selling and administrative expenses were $15,750 for the month. Prepare an income statement for Barselona for the month ended March 31, 2020. BARSELONA INC. Income Statement For the Month Ended March 31, 2020 Variances Total Variance - Unfavourable Total Variance - Favourable