Baryans Corporation provided the following partial income statements and detailed information for the past two years:                                                2021                             2020                             Changes Sales                                  P360,000                      P192,000                P168,000 Cost of sales                       158,400                        96,000                    62,400 Gross income                      201,600                        96,000                    105,600   Unit selling price                 P150                             P120 Unit cost                             P66                               P60 Quantity sold                      2,400                            1,600   How much is the sales price variance? Refer to the case of Baryans Corporation. How much is the sales volume variance? Refer to the case of Baryans Corporation. How much is the cost price variance?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Baryans Corporation provided the following partial income statements and detailed information for the past two years:

 

                                             2021                             2020                             Changes

Sales                                  P360,000                      P192,000                P168,000

Cost of sales                       158,400                        96,000                    62,400

Gross income                      201,600                        96,000                    105,600

 

Unit selling price                 P150                             P120

Unit cost                             P66                               P60

Quantity sold                      2,400                            1,600

 

How much is the sales price variance?

Refer to the case of Baryans Corporation. How much is the sales volume variance?

Refer to the case of Baryans Corporation. How much is the cost price variance?

 
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Transfer Pricing
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education