Problem 1- Jodi company presented the following cost data relating to its product: Cost per unit Direct materials P10.00 Direct labor 8.00 Variable factory overhead Fixed factory overhead (based on Normal capacity of 10,000 units) 6.00 4.00 The total fixed operating costs amounted to P60,000 and the variable selling and administrative expenses were P40,000. The product sells for P27 per unit and the company produced 14,000 units and sold 12,000 units during the period. Required: 1. How much is the total fixed costs for the period? 2. How much is the total variable costs?

Problem 1- Jodi company presented the following cost data relating to its product: Cost per unit Direct materials P10.00 Direct labor 8.00 Variable factory overhead Fixed factory overhead (based on Normal capacity of 10,000 units) 6.00 4.00 The total fixed operating costs amounted to P60,000 and the variable selling and administrative expenses were P40,000. The product sells for P27 per unit and the company produced 14,000 units and sold 12,000 units during the period. Required: 1. How much is the total fixed costs for the period? 2. How much is the total variable costs?

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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