Mindy Corporation sells a .ingle product Budgeted sales foe the year are anticipated to be 640.000 units beginning inventory is 98.000 units. and desired ending inventory is 80.000 units The qualities of direct expected to he used for each unit of finished product are given below. Material A - 0.50 lb. per unit @ $0.60 per pound Material B - 1.00 lb. per unit @ $1.70 per pound Material C - 1 20 lb per unit @ $1.00 per pound The dollar amount of Material C used in production during the year is $746.400 $724.800 $824, 400 $758, 160 Principal components, of a muter budget include production budget sales budget What is the amount of the gross profit that would be reported on the absorption costing income statement? $21,000 $18, 900 $27, 900 $18,000 Which of the following is not a reason standard costs are separated into two components? The price and quantity variances need to be identified separately to correct the actual major differences Identifying variances determines which manager must find a solution to major discrepancies If a negative variance is overshadowed by a favorable variance, managers may overlook potential corrector Variances bring attention to discrepancies in the budget and require managers to revise budgets closer to results