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no need to explain. For Items 63-65 Zooey Company began its operations on January 1, 2021. It produces a single product that sells for p
no need to explain.
For Items 63-65 Zooey Company began its operations on January 1, 2021. It produces a single product that sells for p 13.50 per unit. The company uses an actual (historical) cost system. During 2021, 150,000 units were produced and 135,000 units were sold. There was no work-in-process inventory on December 31, 2021. Manufacturing costs and selling and administrative expenses for 2021 were as follows: Fixed Costs Variable Cost per Unit Raw materials P 3.50 per unit produced Direct Labor 2.50 per unit produced Factory overhead 195,000 1.00 per unit produced Selling and administrative 140,000 1.20 per unit sold Question 63 Not yet answered Marked out of 2.00 P Flag question What amount would be Zooey Company's operating income for 2021 using the variable costing method? a. P702,000 b. P400,000 C. P715,500 d. P380,500 Question 64 Time left 2:20:44 Not yet answered Marked out of 2.00 P Flag question What amount would be Zooey Company's operating income for 2021 using the absorption costing method? a. P702,000 b. P400,000 C. P380,500 d. P715,500 Question 65 Not yet answered Marked out of 2.00 P Flag question The cost of ending inventory under the two costing methods were: Absorption Costing Variable Costing a. P142,500 P123,000 b. P105,000 P124,500 c. P124,500 P105,000 d. P123,000 P142,500Step by Step Solution
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