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Calculating profit/loss of a business.

Calculating profit/loss of a business.

FINANCIAL ACCOUNTING
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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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?
Transcribed Image Text: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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