21. HIERARCHY Corporation manufactures a variety of products. Last yearthe company's variable costing net operating income was P90,900. Fixedmanufacturing overhead costs released from inventory under absorptioncosting amounted to P21,90O. What was the absorption costing netoperating income last year? *а. Р69,000О Б. Р90,900c. P21,900O d. P112,800

The net income is calculated as difference between sales and total expenses.

Answered: 21. HIERARCHY Corporation manufactures…

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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