ANswer 1 to 3 Exercise 3 (Variable Costing Unit Product Cost and Income Statement;Break-even)PC Desk, Inc., makes an oak desk specially designed for personal computers.The desk sells for P2,000. Data for last year's operations follow:Units in beginning inventory.Units produced...Units sold. .Units in ending inventory.....10,0009,0001,000......Variable costs per unit:Direct materials...Direct labor ...Variable manufacturing overhead..Variable selling and administrativeTotal variable cost per unit. ..P 600300100200P1.200Fixed costs:Fixed manufacturing overhead...Fixed selling and administrative.Total fixed costs...P3,000,0004,500,000P7,500.000Required:1. Assume that the company uses variable costing. Compute the unit productcost for one computer desk.2. Assume that the company uses variable costing. Prepare an incomestatement for the year using the contribution format.3. What is the company's break-even point in terms of units sold?

Formula: BEP (Units)= Fixed CostContribution Contribution= Sales- Varibale cost Cost Per Unit= Total…

Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one computer desk. 2. Assume that the company uses variable costing. Prepare an income statement for the year using the contribution format. 3. What is the company's break-even point in terms of units sold?

Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one computer desk. 2. Assume that the company uses variable costing. Prepare an income statement for the year using the contribution format. 3. What is the company's break-even point in terms of units sold?

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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