Rebel Company manufactures a single product and has the following cost structure: Variable cost per unit Fixed Costs Production P5 Production P32,000 Selling & administrative Selling & administrative 16,000 During the year, 8,000 units were produced, and 7,800 units were sold.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question
Answer questions 3 & 4 using the following information:
Rebel Company manufactures a single product and has the following cost structure:
Variable cost per unit
Fixed Costs
Production
P5
Production
P32,000
Selling & administrative
3
Selling & administrative
16,000
During the year, 8,000 units were produced, and 7,800 units were sold.
3. The carrying value of ending inventory under variable costing
would be: present as is if higher or present it in comma if it is less
ex: (200)
Your answer
4. Under absorption costing, the cost of goods sold would be:
Your answer
Transcribed Image Text:Answer questions 3 & 4 using the following information: Rebel Company manufactures a single product and has the following cost structure: Variable cost per unit Fixed Costs Production P5 Production P32,000 Selling & administrative 3 Selling & administrative 16,000 During the year, 8,000 units were produced, and 7,800 units were sold. 3. The carrying value of ending inventory under variable costing would be: present as is if higher or present it in comma if it is less ex: (200) Your answer 4. Under absorption costing, the cost of goods sold would be: Your answer
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education