1. In Zero Company's income statement, they report gross profit of $55,000 at standard and the following variances: Material price $ 420 F Materials quantity $600 F, Labor price $ 420 U, Labor quantity $1,000 F, Overhead $900 F. Zero would report actual gross profit of A $51,660 B. $52,500 C. $ 57,500 D. $58,340 ////// /////// 2. In Zero Company's income statement, they report actual gross profit of $52,500 and the following variances: Material price $ 420 F Materials quantity $600 F, Labor price $ 420 U, Labor quantity $1,000 F, Overhead $900 F. Zero would report gross profit at standard of A. $46,660 B. $47,500 C. $55,000 D. $ 53,340