Question
The gross profit statements for 2015 and 2014 of Yours Truly Company follow: 2015 2014 Sales P 160,000 P 120,000 Cost of goods sold 120,000
The gross profit statements for 2015 and 2014 of Yours Truly Company follow:
|
| 2015 | 2014 |
| Sales | P 160,000 | P 120,000 |
| Cost of goods sold | 120,000 | 72,000 |
| Gross profit | P 40,000 | P 48,000 |
Yours Truly Company informed you that the unit cost decreased by 20% at the start of 2015.
- Determine the cost price and cost volume variances.
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Human And Social Audit
Authors: N P Agarwal
1st Edition
8176113980, 978-8176113984
