Alpine Productions Uses a Standard Cost System for Recording Transactions

Multiple Choice

Alpine Productions uses a standard cost system for recording transactions. Alpine reported the following data for the year ended December 31: Sales revenues: $700,000
Cost of goods sold (standard costing) : $382,500
Selling & administrative expenses: $100,000
Variances:
$$\begin{array} { | l | r | c | } \hline \text { Sales revenue variance } & \$ 4100 & \mathrm {~F} \\\hline \text { Direct materials cost variance } & 20 & \mathrm { U } \\\hline \text { Direct materials efficiency variance } & 325 & \mathrm {~F} \\\hline \text { Direct labor cost variance } & 75 & \mathrm { U } \\\hline \text { Direct labor efficiency variance } & 10 & \mathrm {~F} \\\hline \text { Variable overhead cost variance } & 300 & \mathrm { U } \\\hline \text { Variable overhead efficiency variance } & 80 & \mathrm {~F} \\\hline \text { Fixed overhead cost variance } & 410 & \mathrm { U } \\\hline \text { Fixed overhead volume variance } & 130 & \mathrm {~F} \\\hline\end{array}$$ What is the net operating income on a standard cost income statement?

A) $217,240
B) $221,340
C) $321,340
D) $217,500