Question: 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.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Question:
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.
Transcribed Image Text:Question: 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.
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