47. PIBISCO Inc. manufactures and sells cookies at P12.50 per box, with each box containing 100 cookies. Income statement presented to shareholders for the quarter just ended are as follows: 85,000 Sales (400 boxes) Cost of goods sold Gross margin (3,200) Selling and administrative P1,800 (800) Net income P1,000 expenses The company produced 500 boxes during the quarter. Variable manufacturing costs are P5.25 per box and fixed manufacturing overhead for the quarter totaled P1,375. Variable selling and administrative expenses are P0.90 per box. What is the company's direct costing net income? A. 9725 B. P1,000 C. P1,275 D. P2,265 E. 92,540
47. PIBISCO Inc. manufactures and sells cookies at P12.50 per box, with each box containing 100 cookies. Income statement presented to shareholders for the quarter just ended are as follows: 85,000 Sales (400 boxes) Cost of goods sold Gross margin (3,200) Selling and administrative P1,800 (800) Net income P1,000 expenses The company produced 500 boxes during the quarter. Variable manufacturing costs are P5.25 per box and fixed manufacturing overhead for the quarter totaled P1,375. Variable selling and administrative expenses are P0.90 per box. What is the company's direct costing net income? A. 9725 B. P1,000 C. P1,275 D. P2,265 E. 92,540
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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