JRM Inc., which has only one product, provided the following data for April: Sales @ P74/unit P636,400 Variable costs per unit: Fixed costs: Direct materials P12 Factory overhead P176,000 Direct labor 32 Selling & administrative 8,600 Factory overhead Selling & administrative 6 There are 200 units of inventory remaining at the end of April. 6. Unit product cost under variable and absorption costing approach, respectively, must be: Present it as V-50 and A-53 Your answer 7. Contribution margin for the month under the variable costing approach is: Your answer 8. Gross margin for the month under the absorption costing approach is:

JRM Inc., which has only one product, provided the following data for April: Sales @ P74/unit P636,400 Variable costs per unit: Fixed costs: Direct materials P12 Factory overhead P176,000 Direct labor 32 Selling & administrative 8,600 Factory overhead Selling & administrative 6 There are 200 units of inventory remaining at the end of April. 6. Unit product cost under variable and absorption costing approach, respectively, must be: Present it as V-50 and A-53 Your answer 7. Contribution margin for the month under the variable costing approach is: Your answer 8. Gross margin for the month under the absorption costing approach is:

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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