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22. PIBISCO Inc. manufactures and sells cookies at P12.50 per box, with each box containing 100 cookies. Income statement presented shareholders for the quarter just
22. PIBISCO Inc. manufactures and sells cookies at P12.50 per box, with each box containing 100 cookies. Income statement presented shareholders for the quarter just ended are as follows: to Sales (400 boxes Cost of goods sold Gross margin P5,000 (3,200) P1,800 (800) sejins and administrative (60) o expenses Net income P1,000 AC The company produced 500 boxes during the quarter. Variable manufacturing costs are P5.25 per box and fixed manufacturing overhead for the quarter totaled (P1,375. Variable selling and administrative expenses are PO.90 per box. What is the company's direct costing net income? P725 B. P1,000 C. P2,265 D. P2,540 ltuS
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