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Prepare an income statement for management for the month end

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Question - Winters Company uses a standard cost system. During January, the company reported the following manufacturing variances.

Materials price variance $1,380 U Labor quantity variance $ 760 U

Materials quantity variance 720 F Overhead variance 870 U

Labor price variance 610 U

In addition, 9,040 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 $6,400 for the month.

Prepare an income statement for management for the month ended January 31, 2011.

Reference no: EM131796202

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