Additional information for No.'s 1 and 4 Selling and administrative expenses are 60% fixed and 40% variable What is the net income for 2020 under the Variable Costing Method?What is the net income for 2020 under the Absorption Costing Method?What is the net income for 2021 under the Variable Costing Method?What is the net income for 2021 under the Absorption Costing Method? The following data were taken from the records of NUBD Co.In UnitsInventory, Jan. 1Production20202021Available for saleUnits soldInventory, Dec. 3120.00020,00013,000Z.0007,00018.00025,00023.0002.000Sales (P20 per unit)Variable manufacuring cost (P7.50 per unit)Fixed manufacturing costSelling and administrativeP 260,000 P460,000150,00050,00045,000135,00054,00075,000

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Selling and administrative expenses are 60% fixed and 40% variable What is the net income for 2020 under the Variable Costing Method? What is the net income for 2020 under the Absorption Costing Method? What is the net income for 2021 under the Variable Costing Method? What is the net income for 2021 under the Absorption Costing Method?

Selling and administrative expenses are 60% fixed and 40% variable What is the net income for 2020 under the Variable Costing Method? What is the net income for 2020 under the Absorption Costing Method? What is the net income for 2021 under the Variable Costing Method? What is the net income for 2021 under the Absorption Costing Method?

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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