In previous year, Seventy Up, Inc. operated at 250,000 units. The following income ment was provided for you to plan your next year's operation: Sales Cost of goods sold Gross profit Operating expenses, variable costs is P125,000 Net income before income tax P2,000,000 1,500,000 P 500,000 225,000 P 275,000 The fixed manufacturing cost in the cost of goods sold is P3.00 Instructions: Revise the income statement to reflect a variable costing method.
In previous year, Seventy Up, Inc. operated at 250,000 units. The following income ment was provided for you to plan your next year's operation: Sales Cost of goods sold Gross profit Operating expenses, variable costs is P125,000 Net income before income tax P2,000,000 1,500,000 P 500,000 225,000 P 275,000 The fixed manufacturing cost in the cost of goods sold is P3.00 Instructions: Revise the income statement to reflect a variable costing method.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![de bne
In previous year, Seventy Up, Inc. operated at 250,000 units. The following income
ement was provided for you to plan your next year's operation:
Sales
Cost of goods sold
Gross profit
Operating expenses, variable costs is P125,000
Net income before income tax
eleo P2,000,000d
1,500,000 it
P 500,000 ns
mh 225,000
P 275,000
29
adeo
baud
The fixed manufacturing cost in the cost of goods sold is P3.00
Instructions: Revise the income statement to reflect a variable costing method.
lad](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4056c4ac-a99c-4ba3-927f-08fbf5ae853a%2F1941dc1c-94e4-4e98-a839-226f1b570271%2F1tb41od_processed.png&w=3840&q=75)
Transcribed Image Text:de bne
In previous year, Seventy Up, Inc. operated at 250,000 units. The following income
ement was provided for you to plan your next year's operation:
Sales
Cost of goods sold
Gross profit
Operating expenses, variable costs is P125,000
Net income before income tax
eleo P2,000,000d
1,500,000 it
P 500,000 ns
mh 225,000
P 275,000
29
adeo
baud
The fixed manufacturing cost in the cost of goods sold is P3.00
Instructions: Revise the income statement to reflect a variable costing method.
lad
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