Exercise 5-13The Shelle-Macke Mining Co. mines Slomac, a commonly used mineral. Forthe years 2019 and 2020, the company's comparative report of operations showed:SalesCost of SalesGross Profit2019P8,400,0009,450,000P(1,050,000)2020P8,910,0006,885,000P2,025,000Increase(Decrease)P510,000(2,565,000)P3,075,000REQUIRED:1. A detailed analysis of the causes for the change in gross profit graphically. OnJan. 1, 2020, the selling price was increased by 37-1/2%.

To analyze the change in gross profit for Co. from 2019 to 2020, we can create a graphical…

The Shelle-Macke Mining Co. mines Slomac, a commonly used mineral. For the years 2019 and 2020, the company's comparative report of operations showed: Sales Cost of Sales Gross Profit 2019 2020 Increase (Decrease) P510,000 6,885,000 (2,565,000) P2,025,000 P3,075,000 P8,400,000 P8,910,000 9,450,000 P(1,050,000)

The Shelle-Macke Mining Co. mines Slomac, a commonly used mineral. For the years 2019 and 2020, the company's comparative report of operations showed: Sales Cost of Sales Gross Profit 2019 2020 Increase (Decrease) P510,000 6,885,000 (2,565,000) P2,025,000 P3,075,000 P8,400,000 P8,910,000 9,450,000 P(1,050,000)

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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