show: 2020 P1,000,000 2021 Sales P1,237,500 950,000 P 287.000 Cost of sales Gross profit 800,000 P 200,000 The only known factor given to you is the sales price increased 12.5% beginning January 2021.
show: 2020 P1,000,000 2021 Sales P1,237,500 950,000 P 287.000 Cost of sales Gross profit 800,000 P 200,000 The only known factor given to you is the sales price increased 12.5% beginning January 2021.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
The increase in gross profit due to increase in volume is:
P50,000
P35,000
P20,000
None of these
Gross profit declined due to increase in cost in the amount of:
P70,000
P88,000
P97,500
None of these.
The increase in sales price caused an increase in gross profit by:
P100,000
P137,500
P110,000
None of these.
The percent of change in volume is:
12.750%
11.000%
15.125%
None of these
The percent of change in cost is:
10.79%
10.000%
8.67%
None of these
Transcribed Image Text:Items 20 through 24 are based on the following: The management of Bataan Corporation asked you to submit an
analysis of the increase in their gross profit in 2021 based on their past two-year comparative income statements which
show:
2021
2020
Sales
P1,237,500
P1,000,000
800,000
P 200,000
Cost of sales
950,000
P 287.000
Gross profit
The only known factor given to you is the sales price increased 12.5% beginning January 2021.
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