Prepare an income statement (through income before income tax) for presentation to management, using the following data from the records of greenway manufacturing company for november of the current year: administrative expenses $73,500 cost of goods sold (at standard) 470,000 direct materials quantity variance—favorable 1,200 direct materials price variance—favorable 2,400 direct labor time variance—unfavorable 900 direct labor rate variance—favorable 500 factory overhead volume variance—unfavorable 10,000 factory overhead controllable variance—favorable 1,500 sales 950,000 selling expenses 165,800 greenway manufacturing company income statement for month ended november 30 sales $ cost of goods sold - at standard gross profit - at standard $ less variances from standard cost: favorable unfavorable direct materials price $ direct materials quantity direct labor rate direct labor time $ factory overhead controllable factory overhead volume gross profit $ operating expenses: selling expenses $ administrative expenses income before income tax