In Bramble Corp.'s income statement, they report a gross profit of $44,000 at standard and the following variances: Materials price $420 F Materials quantity 600 F Labor price 420 U Labor quantity 1,000 F Overhead 900 F Bramble would report an actual gross profit of: a. $40,660. b. $47,340. c. $41,500. d. $46,500.
In Bramble Corp.'s income statement, they report a gross profit of $44,000 at standard and the following variances: Materials price $420 F Materials quantity 600 F Labor price 420 U Labor quantity 1,000 F Overhead 900 F Bramble would report an actual gross profit of: a. $40,660. b. $47,340. c. $41,500. d. $46,500.
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
Related questions
Question
100%
Transcribed Image Text:In Bramble Corp.'s income statement, they report a gross profit of
$44,000 at standard and the following variances:
Materials price
$420 F
Materials quantity
600 F
Labor price
420 U
Labor quantity
1,000 F
Overhead
900 F
Bramble would report an actual gross profit of:
a. $40,660.
b. $47,340.
c. $41,500.
d. $46,500.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,