The following data have been taken from the records of a company: 200,000 Production in units during 2011 Units sold during 2011 Selling Price per unit 190,000 P 15.00 Standard Variable Costs per unit Material and Labor Indirect Manufacturing Costs Selling and Administrative expenses 1.00 Fixed Costs budgeting for the year Indirect Manufacturing Costs P8.00 2.00 P 400,000 Selling & Administrative Expenses P 300,000 Required: Determine the income (loss) before income taxes for the year 2011 under Variable Costing?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following data have been taken from the records of a company:
200,000
190,000
Production in units during 2011
Units sold during 2011
Selling Price per unit
Standard Variable Costs per unit
Material and Labor
Indirect Manufacturing Costs
P15.00
P8.00
2.00
Selling and Administrative expenses 1.00
Fixed Costs budgeting for the year
Indirect Manufacturing Costs
Selling & Administrative Expenses P 300,000
P 400,000
Required:
Determine the income (loss) before income taxes for the year 2011 under Variable Costing?
Transcribed Image Text:The following data have been taken from the records of a company: 200,000 190,000 Production in units during 2011 Units sold during 2011 Selling Price per unit Standard Variable Costs per unit Material and Labor Indirect Manufacturing Costs P15.00 P8.00 2.00 Selling and Administrative expenses 1.00 Fixed Costs budgeting for the year Indirect Manufacturing Costs Selling & Administrative Expenses P 300,000 P 400,000 Required: Determine the income (loss) before income taxes for the year 2011 under Variable Costing?
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