FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company has the following cost data: Fixed manufacturing costs - P2,000; Fixed selling, general, and administrative costs - P1,000; Variable selling costs per unit

A company has the following cost data: Fixed manufacturing costs - P2,000; Fixed selling, general, and administrative costs - P1,000; Variable selling costs per unit sold - P1; Variable manufacturing costs per unit - P2. Units produced - 100 units; Units sold - 90 units at P40 per unit. What is the net income under the absorption costing?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting IFRS

Intermediate Accounting IFRS

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

4th Edition

1119607515, 978-1119607519

More Books

Students also viewed these Accounting questions

Question

★★★★★
When Bunyan Corporation was formed on January 1, 20xx, the corporate charter provided for 97,200 shares of $9 par value common stock. The following transaction was among those engaged in by the...

Answered: 1 week ago

Question

★★★★★
What are some of the ethical issues that seem to accompany discussions of outsourcing or offshoring? What tradeoffs might a management team be weighing with a particular outsourcing or offshoring...

Answered: 1 week ago

Question

★★★★★
1. Ask a second student to summarize what the first student said; then, the first student can try again to explain if the summary is incorrect.

Answered: 1 week ago

Question

★★★★★
Maria Bell and J. R. Green are forming a partnership to which Bell will devote one- third time and Green will devote full time. They have discussed the following alternative plans for sharing income...

Answered: 1 week ago

Question

★★★★★
The following lots of Commodity Z were available for sale during the year. Beginning inventory 10 units at $48 First purchase 15 units at $51 Second purchase 51 units at $59 Third purchase 15 units...

Answered: 1 week ago

Question

★★★★★
Michaels Company segments its income statement into its East and West Divisions. The company's overall sales, contribution margin ratio, and net operating income are $600,000, 50%, and $50,000,...

Answered: 1 week ago

Question

★★★★★
In this assignment, Tim Horton's has asked you and your team to do some research and introduce three new snacks. 1. Read the questions carefully. 2. What concepts can you draw from the textbook to...

Answered: 1 week ago

Question

★★★★★
you will be introduced with the Dynamic Host Control Protocol (DHCP) service available on Cisco routers. You are then required to design and setup a small enterprise network by putting together the...

Answered: 1 week ago

Question

★★★★★
1- Please look over the last problem for the week. Duffy Corporation has prepared the following sales budget: Month Cash Sales Credit Sales May $16,000 $68,000 June 20,000 80,000 July 18,000 74,000...

Answered: 1 week ago

Question

★★★★★
You are assigned the role of security manager. The Director of Operations, thinks this is a good opportunity to train all the facilities management staff in key elements of security. Recommending a...

Answered: 1 week ago

Question

★★★★★
Provide an outline of the steps for the change management and configuration management processes of the new server as well as the website that needs to be updated and hosted. This information should...

Answered: 1 week ago

Question

★★★★★
Ms Ghulsah applied for asylum in the UK claiming persecution in her own country in Asia on the grounds of belonging to a particular social group as a ground for claiming asylum under the Refugee...

Answered: 1 week ago

Question

★★★★★
1. To provide insight into how setting an overly narrow boundary can give a mes-sage a specific meaning, while setting a wider boundary can give a completely different meaning.

Answered: 1 week ago

Question

★★★★★
12. What is meant by the statement, often we do not know what the real problem is until we look at its possible consequences or solutions?.

Answered: 1 week ago

Question

★★★★★
9. What is meant by the statements: a) Experiences are different from what is experienced. b) The description is different from what is described.

Answered: 1 week ago

Previous Question Next Question