Required: Calculate and analyze the gross profit variance Obiem 6. Highland Coffee Company is concerned with its gross profit negating the increase ofIts sales. It presents the following data for two species of coffee, Arabica and Robusta, for 2020and 2019:20202019KilosPrice/Kg.AmountKilosPrice/Kg.AmountNet salesArabica12,000P390P4,680,00010,500P400P4,200,000Robusta10,0003603,600,0003.630.0007,830,00011,000330Totals8,280,000Cost of goods soldArabica3203,840,0003503,675,000Robusta3003,000,0002402,640,000Totals6,840,0006,315,000Gross profit21.440.000Required: Calculate and analyze the gross profit variance.21515.000

Gross profit variance is the difference of gross profit in two years. This shows how much gross…

Problem 6. Highland Coffee Company is concerned with its gross profit negating the increase of Its sales. It presents the following data for two species of coffee, Arabica and Robusta, for 2020 and 2019: 2020 2019 Kilos Price/Kg. Amount Kilos Price/Kg. Amount Net sales Arabica 12,000 P4,680,000 3,600,000 8,280,000 P390 10,500 P400 P4,200,000 Robusta 10,000 360 3.630.000 7,830,000 11,000 330 Totals Cost of goods sold Arabica 320 3,840,000 350 3,675,000 Robusta 300 3,000,000 240 2,640,000 Totals 6,840,000 21.440.000 Required: Calculate and analyze the gross profit variance. 6,315,000 Gross profit 21.515.000

Problem 6. Highland Coffee Company is concerned with its gross profit negating the increase of Its sales. It presents the following data for two species of coffee, Arabica and Robusta, for 2020 and 2019: 2020 2019 Kilos Price/Kg. Amount Kilos Price/Kg. Amount Net sales Arabica 12,000 P4,680,000 3,600,000 8,280,000 P390 10,500 P400 P4,200,000 Robusta 10,000 360 3.630.000 7,830,000 11,000 330 Totals Cost of goods sold Arabica 320 3,840,000 350 3,675,000 Robusta 300 3,000,000 240 2,640,000 Totals 6,840,000 21.440.000 Required: Calculate and analyze the gross profit variance. 6,315,000 Gross profit 21.515.000

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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