SmartSound manufactures headphone cases. during sept 2011, the company produced and sold 105,000 cases and recorded the following cost data: standard cost information: direct materials (quantity - 2 parts, price - $0.15/part) direct labor (quantity - 0.02 hours, price - $9/hour) variable manufacturing overhead (quantity - 0.02 hours, price - $9/hour) fixed manufacturing overhead ($28,500 for static budget volume of 95,000 units and 1,900 hours, or $15/hour) actual information: direct materials (235,000 parts @ $0.20/part = $47,000) direct labor (1,700 hours @9.15/hour = $15,555) manufacturing overhead $61,000 Prepare a standard cost income statement through gross profit to report all variances to management. the sale price of the headset cases was $1.50 each. (answer from the book: gross profit = $33,945)