Irwin industries had the following inventory transactions occur during the current year: units cost/unit feb. 1 purchase 40 $42 mar. 14 purchase 60 $43 may 1 purchase 45 $44 the company sold 100 units at $80 each and has a tax rate of 25%. assuming that a periodic inventory system is used and operating expenses are $1,000, what is the company’s gross profit using lifo? (rounded to whole dollars)

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is: