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Information from Pascua Company for the year ended December 31, 2020: Units sold 60,000 Units produced 70,000 Net Sales Finished goods invty., Beginning 10,000 Operating expenses: Variable P98,000 140,000 P1,400,000 Cost of goods manufactured: Variable P630,000 Fixed 315,000 Fixed 3. Under full costing method, what would be the company's value of finished goods ending inventory, 12.31.202. 4. Under direct costing method, what would be the company's operating income?

Information from Pascua Company for the year ended December 31, 2020: Units sold 60,000 Units produced 70,000 Net Sales Finished goods invty., Beginning 10,000 Operating expenses: Variable P98,000 140,000 P1,400,000 Cost of goods manufactured: Variable P630,000 Fixed 315,000 Fixed 3. Under full costing method, what would be the company's value of finished goods ending inventory, 12.31.202. 4. Under direct costing method, what would be the company's operating income?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Information from Pascua Company for the year ended December 31, 2020: Units sold 60,000 70,000 Finished goods invty., Beginning 10,000 Operating expenses: Variable P98,000 140,000 Units produced Net Sales P1,400,000 Cost of goods manufactured: Variable P630,000 Fixed 315,000 Fixed 3. Under full costing method, what would be the company's value of finished goods ending inventory, 12.31.202. 4. Under direct costing method, what would be the company's operating income?
Transcribed Image Text:Information from Pascua Company for the year ended December 31, 2020: Units sold 60,000 70,000 Finished goods invty., Beginning 10,000 Operating expenses: Variable P98,000 140,000 Units produced Net Sales P1,400,000 Cost of goods manufactured: Variable P630,000 Fixed 315,000 Fixed 3. Under full costing method, what would be the company's value of finished goods ending inventory, 12.31.202. 4. Under direct costing method, what would be the company's operating income?
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