He following data were taken from the records of griggs company for december: administrative expenses $100,800 cost of goods sold (at standard) 550,000 direct materials price variance—unfavorable 1,680 direct materials quantity variance—favorable (560) net controllable variance, $900 u excel template income before income tax, $85,900 1144 chapter 22 evaluating variances from standard costs copyright 2018 cengage learning. all rights reserved. may not be copied, scanned, or duplicated, in whole or in part. wcn 02-200-203 direct labor rate variance—favorable (1,120) direct labor time variance—unfavorable 490 variable factory overhead controllable variance—favorable (210) fixed factory overhead volume variance—unfavorable 3,080 interest expense 2,940 sales 868,000 selling expenses 125,000

prepare an income statement for presentation to management.