Question 7 of 50 -/53 View Policies Current Attempt in Progress In Sheridan Company's income statement, they report actual gross profit of $43500 and the following variances Materials price Materials quantity Labor price Labor quantity Overhead $420 F 600 F 4200 1000 F 900 F Sheridan would report gross profit at standard of O $14340 O $41000 O $37660 $38500 Question 9 of 50 -/5 View Policies Current Attempt in Progress Splish Brothers Corp. has an 8% required rate of return. It's considering a project that would provide annual cost savings of $74000 for 5 years. The most that Johnson would be willing to spend on this project is Present Value of Lat 8% Year 1 2 3 4 5 0.926 0.857 0.794 0.735 0.681 PV of an Annuity of 1 at 8% 0.926 1.783 2.577 3.312 3.993 $245088 O $186347 O $50394 O $295482