Please answer ASAP thank you! 1. Calculating profit/loss of a business.Manny decided to sell mango floats in tubs. After preparing, he was able tomake 15 tubs for P105 each. Can you help him compute his profit/loss?Following is the list of expenses that he incurred.ExpensesMangoBiscuitsCondensed MilkWhipping CreamDisposable PackOthersUnitKilogramPackCanPackPieceQuantity5106620Cost706035504Amount3506002103008035a. What is the total profit/loss? Show your computations.b. Based on the new concept that you learned, what can you infer on Manny'sbusiness?

Break even point is the situation where the company is not able to earn profit and it does not incur…

Answered: Calculating profit/loss of a business.

Business

Accounting

Calculating profit/loss of a business.

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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Question

Please answer ASAP thank you!

1. Calculating profit/loss of a business.
Manny decided to sell mango floats in tubs. After preparing, he was able to
make 15 tubs for P105 each. Can you help him compute his profit/loss?
Following is the list of expenses that he incurred.
Expenses
Mango
Biscuits
Condensed Milk
Whipping Cream
Disposable Pack
Others
Unit
Kilogram
Pack
Can
Pack
Piece
Quantity
5
10
6
6
20
Cost
70
60
35
50
4
Amount
350
600
210
300
80
35
a. What is the total profit/loss? Show your computations.
b. Based on the new concept that you learned, what can you infer on Manny's
business?

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