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In Sheffield Corp.s income statement, they report actual gross profit of $65500 and the following variances: Materials price $420 F Materials quantity 600 F Labor

In Sheffield Corp.s income statement, they report actual gross profit of $65500 and the following variances:

Materials price $420 F
Materials quantity 600 F
Labor price 420 U
Labor quantity 1000 F
Overhead 900 F

Sheffield would report gross profit at standard of

$59660

$63000

$66340

$60500

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