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In Montgomery Company's income statement, they report gross profit of $55,000 at standard and the following variances: Materials price$420F Materials quantity600F Labor price420U Labor quantity1,000F

In Montgomery Company's income statement, they report gross profit of $55,000 at standard and the following variances:

Materials price$420F

Materials quantity600F

Labor price420U

Labor quantity1,000F

Overhead900F

What actual gross profit would Montgomery report?

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