3.16 A company had income of P40,000 using variable costing for a given period. Beginning and ending inventories for that period were 18,000 and 13,000 units, respectively. Ignoring income taxes, if the fixed overhead application rate was P7 per unit, what would the income be if absorption costing was used?

3.16 A company had income of P40,000 using variable costing for a given period. Beginning and ending inventories for that period were 18,000 and 13,000 units, respectively. Ignoring income taxes, if the fixed overhead application rate was P7 per unit, what would the income be if absorption costing was used?

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Description: 3.16A company had income of P40,000 using variable costing for a given period. Beginningand ending inventories for that period were 18,000 and 13,000 units, respectively. Ignoringincome taxes, if the fixed overhead application rate was P7 per unit,

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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