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55 In Concord Corporation's income statement, actual gross profit of $52500 was reported along with the following variances: $400 F 700 F Materials price Materials

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55 In Concord Corporation's income statement, actual gross profit of $52500 was reported along with the following variances: $400 F 700 F Materials price Materials quantity Labor price Labor quantity Overhead 400 U 1040 F 810 F Concord's gross profit at standard cost is O $49950 O $47400 O $46600. O $53300

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