Primm Company produces a product that requires four standard gallons per unit.

Primm Company produces a product that requires four standard gallons per unit. The standard price is $24.50 per gallon. The 2500 units required 10600 gallons
which were purchased at $23.75 per gallon. The product requires three standard hours per unit at a standard hourly rate of $20 per hour. 2500 units required 7900
hours at an hourly rate of $21.50 per hour. The standard variable overhead cost per unit is $2.50 per hour. The actual variable factory overhead was $19050. The
standard fixed overhead cost per unit is $1.30 per hour at 7000 hours which is 100% of normal capacity. Prepare a 2012 income statement through gross profit for Primm Company. Assume Primm sold 2500 units at $320 per unit.