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Fallen Oak, Inc. reported actual gross profit of $115,000. Fallen Oak also reported a materials price variance of $840 F, a materials quantity variance of $1,200 F, a labor price variance of $840 U, a labor quantity variance of $2,000 F, and an overhead variance of $1,800 F. What is Fallen Oak's gross profit at standard? A. $103,320 B. $105,000 C. $110,000 D. $116,680

Fallen Oak, Inc. reported actual gross profit of $115,000. Fallen Oak also reported a materials price variance of $840 F, a materials quantity variance of $1,200 F, a labor price variance of $840 U, a labor quantity variance of $2,000 F, and an overhead variance of $1,800 F. What is Fallen Oak's gross profit at standard? A. $103,320 B. $105,000 C. $110,000 D. $116,680

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 22E
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Fallen Oak, Inc. reported actual gross profit of $115,000. Fallen Oak also reported a materials price variance of $840 F, a materials quantity variance of $1,200 F, a labor price variance of $840 U, a labor quantity variance of $2,000 F, and an overhead variance of $1,800 F. What is Fallen Oak's gross profit at standard? A. $103,320 B. $105,000 C. $110,000 D. $116,680
Transcribed Image Text:Fallen Oak, Inc. reported actual gross profit of $115,000. Fallen Oak also reported a materials price variance of $840 F, a materials quantity variance of $1,200 F, a labor price variance of $840 U, a labor quantity variance of $2,000 F, and an overhead variance of $1,800 F. What is Fallen Oak's gross profit at standard? A. $103,320 B. $105,000 C. $110,000 D. $116,680
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