Activity 2: Did I Gain Profit or Loss? Direction: Choose from the selection the terms described in each guide question. Also, answer each question to determine whether a profit is gained or a loss is obtained in the given real-life problem. Problem: Andy sells chiffon cakes at her cake house. She pays P2,000.00 monthly for the rental of space and she spends P50.00 to make each chiffon cake which she sells for P150.00. Compute for the profit or loss if she was able to sell 20 chiffon cakes for this month. Variable Cost Fixed Cost Break-even Point Selling Price Neither Profit/loss Total Cost Guide Questions: Important Terms Answers 1. How much does she pay for the rental of space each month? 2. How much does she spend for each chiffon cake? 3. How much does she sell each chiffon cake?

Activity 2: Did I Gain Profit or Loss? Direction: Choose from the selection the terms described in each guide question. Also, answer each question to determine whether a profit is gained or a loss is obtained in the given real-life problem. Problem: Andy sells chiffon cakes at her cake house. She pays P2,000.00 monthly for the rental of space and she spends P50.00 to make each chiffon cake which she sells for P150.00. Compute for the profit or loss if she was able to sell 20 chiffon cakes for this month. Variable Cost Fixed Cost Break-even Point Selling Price Neither Profit/loss Total Cost Guide Questions: Important Terms Answers 1. How much does she pay for the rental of space each month? 2. How much does she spend for each chiffon cake? 3. How much does she sell each chiffon cake?

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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