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In Bonita Industries's income statement, they report actual gross profit of $56500 and the following variances: Materials price $420 F Materials quantity 600F Labor price

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In Bonita Industries's income statement, they report actual gross profit of $56500 and the following variances: Materials price $420 F Materials quantity 600F Labor price 420 U Labor quantity 1000 F Overhead 900 F Bonita would report gross profit at standard of $57340 O $54000 $51500 $50660

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