12. Bark Manufacturing Company began its operations on January 1, 20CY and produces a single product that sells for P12. 00 per unit. During 20CY, 100,000 units of the product were produced, 90,000 of which were sold. There was no work in process inventory at the end of the year. Manufacturing costs and marketing and administrative expenses for 20CY were as follows: Fixed Materials Direct Labor Factory Overhead Marketing and Administrative Variable P2. 00 per unit produced 1.50 per unit produced 0,50 per unit produced 0.20 per unit produced P200,000 100,000 Required: Prepare the statement of profit and loss for 20CY using direct costing.

12. Bark Manufacturing Company began its operations on January 1, 20CY and produces a single product that sells for P12. 00 per unit. During 20CY, 100,000 units of the product were produced, 90,000 of which were sold. There was no work in process inventory at the end of the year. Manufacturing costs and marketing and administrative expenses for 20CY were as follows: Fixed Materials Direct Labor Factory Overhead Marketing and Administrative Variable P2. 00 per unit produced 1.50 per unit produced 0,50 per unit produced 0.20 per unit produced P200,000 100,000 Required: Prepare the statement of profit and loss for 20CY using direct costing.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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