Jimin Corp. is preparing the interim financial statements for the quarter ended March 31, 2022. Sales during the quarter is P5,000,000. The variable expense is 20% based on sales. The other expense of P2,100,000 included P1,500,000 an advertisement expense for one-year (incurred unevenly in the year) and depreciation expense of P600,000 for 2022 for an equipment that was available for use on March 1, 2022. How much is the total expense reported as of March 31, 2022?
Jimin Corp. is preparing the interim financial statements for the quarter ended March 31, 2022. Sales during the quarter is P5,000,000. The variable expense is 20% based on sales. The other expense of P2,100,000 included P1,500,000 an advertisement expense for one-year (incurred unevenly in the year) and depreciation expense of P600,000 for 2022 for an equipment that was available for use on March 1, 2022. How much is the total expense reported as of March 31, 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jimin Corp. is preparing the interim financial statements for the quarter ended March 31, 2022. Sales during the quarter is P5,000,000. The variable expense is 20% based on sales. The other expense of P2,100,000 included P1,500,000 an advertisement expense for one-year (incurred unevenly in the year) and
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