The contribution format income statement of Goma Corporation follows: Goma Corporation Income Statement For the Quarter Ended March 31 Sales (28,000 units). Variable expenses: Variable cost of goods sold... Variable selling and administrative . Contribution margin . Fixed expenses: Fixed manufacturing overhead... Fixed selling and administrative .. Net operating loss....... During the period, the company had no beginning inventory but had ending inventory valued at P33,000 using the variable costing approach. P1,120,000 P 462,000 168,000 630,000 490,000 P 300,000 200,000 500,000 P (10,000) ....

The contribution format income statement of Goma Corporation follows: Goma Corporation Income Statement For the Quarter Ended March 31 Sales (28,000 units). Variable expenses: Variable cost of goods sold... Variable selling and administrative . Contribution margin . Fixed expenses: Fixed manufacturing overhead... Fixed selling and administrative .. Net operating loss....... During the period, the company had no beginning inventory but had ending inventory valued at P33,000 using the variable costing approach. P1,120,000 P 462,000 168,000 630,000 490,000 P 300,000 200,000 500,000 P (10,000) ....

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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