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In Waterway Industries's income statement, they report gross profit of $52000 at standard and the following variances: Materials price Materials quantity Labor price Labor quantity

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In Waterway Industries's income statement, they report gross profit of $52000 at standard and the following variances: Materials price Materials quantity Labor price Labor quantity $420 F. 600 F 420U 1000 F 900 F Overhead Waterway would report actual gross profit $55340 O $49500. $54500. $48660

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