In Zero Company's income statement, they report gross profit of $55,000 at standard and the following variances: $$\begin{array} { l r l }
\text { Materials price } & \$ 420 \mathrm {~F} \
\text { Materials quantity } & 600 \mathrm {~F} \
\text { Labor price } & 420 \mathrm { U } \
\text { Labor quantity } & 1,000 \mathrm {~F} \
\text { Overhead } & 900 \mathrm {~F}
\end{array}$$ Zero would report actual gross profit of

Question

In Zero Company's income statement, they report gross profit of $55,000 at standard and the following variances: $$\begin{array} { l r l } 
\text { Materials price } & \$ 420  \mathrm {~F} \
\text { Materials quantity } & 600  \mathrm {~F} \
\text { Labor price } & 420  \mathrm { U } \
\text { Labor quantity } & 1,000 \mathrm {~F} \
\text { Overhead } & 900 \mathrm {~F}
\end{array}$$ Zero would report actual gross profit of

Quizplus · Accepted Answer

The Answer of In Zero Company's income statement, they report gross profit of $55,000 at standard and the following variances: $$\begin{array} { l r l } 
\text { Materials price } & \$ 420  \mathrm {~F} \
\text { Materials quantity } & 600  \mathrm {~F} \
\text { Labor price } & 420  \mathrm { U } \
\text { Labor quantity } & 1,000 \mathrm {~F} \
\text { Overhead } & 900 \mathrm {~F}
\end{array}$$ Zero would report actual gross profit of

In Zero Company's Income Statement, They Report Gross Profit of $55,000