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:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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6,7&8
Transcribed Image Text: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:
Your answer
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