of $$2\mathrm{.}00$ per direct labor hour at $55,000$ hours, which is $100\%$ of normal capacity. negative numbers use a minus sign. If an amount box does not require an entry, leave it blank.

Alvarado Company

Income Statement Through Gross Profit

For the Month Ended March $31$

Line Item Description

Sales

Cost of goods sold$-$at standard

Gross profit$-$at standard $.$

Variances from standard cost:

Direct materials price

Direct materials quantity

Direct labor rate

Direct labor time

Factory overhead controllable

Factory overhead volume

Net variances from standard cost$-$favorable

Amount Amount Unfavorable Favorable

$ $

Gross profit

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