The following data were taken from the first year absorption based accounting records of Stan Corp.. Total fixed costs incurred, P100,000 Total variable costs incurred, P50,000 Total period costs incurred, P70,000 Total variable period costs incurred, P30,000 Units produced, 20,000 Units sold, 12,000 Unit sales price, P 12.00 If Stan Corp had used variable costing in first year of operations, how much income/loss before tax would it have reported?

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: The preceding year income statement for the year ending March 31 is as follows Sales (200,000 units…

Q: The following data were adapted from a recent income statement of The Bluth Company:   (in…

A: Fixed Cost of products sold = Total Cost of products sold - Variable Cost of products sold = $98,540…

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: Break-Even Point: It is the point of sales at which entity neither earns a profit nor suffers a…

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: SOLUTION-1 The company management feels that it should earn at least Rs.10000 pre taxes per annum on…

Q: Helmers Corporation manufactures a single product. Variable costing net operating income last year…

A: Absorption costing net operating income last year = Variable costing net operating income last year…

Q: A company that sells its single product for P40 per unit had after-tax net income for the past year…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: he condensed income statement for a business for the past year is as follows:     Product…

A: Product A is currently providing a loss of $ 25,000 to the company. It is because its total costs…

Q: Leo Corporation has the following data for 2021: Per unit variable: Direct material P50 Direct labor…

A: Answer: Concept: =Sales- Variable cost- Fixed cost= Net income

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: Contribution margin per unit = Contribution margin / No. of units  = Rs. 200,000 / 200,000 units=…

Q: follow s    Sales (200,000 units @ 2.5 Each)                              Rs. 5, 00,000  Variable…

A: The preceding year income statement for the year ending March 31 is as follows:-   Sales (200,000…

Q: A company that sells its single product for P40 per unit had after-tax net income for the past year…

A: Solution...   Net income after tax = P1,188,000  Income before tax  = Income after tax ÷ (100% - tax…

Q: Based on variable costing, if NUBD Co had sold 12.002 units instead of 12,000, its income before…

A: Total Variable cost = P50,000 Total Variable period cost = P30,000 Total Variable manufacturing cost…

Q: The condensed income statement for Monroe Corp. for the past year is as follows: Product В C Sales…

A: If product B is discontinued  then Total Fixed costs will be allocated to product "C" Because Fixed…

Q: Using Direct Costing Method, Laban Company had a net profit of ₱65,000 and ₱50,000 using Full…

A: Single Step Income Statement is a method of expressing a profit and loss statement that lists all…

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: Contribution margin per unit = Contribution margin / No. of units sold = Rs. 200,000 / 200,000 = Rs.…

Q: The condensed income statement for a Hayden corp. For the past year…

A: Formula: Change in net income = Sales made by T - Variable cost of T

Q: The following information was extracted from the first year absorption-based accounting records of…

A: Solution: Income under variable costing = Sales - Variable costs - Fixed costs

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: Calculation of Contribution Margin per unit: Selling price per unit = Rs. 2.5 Variable cost per unit…

Q: Under Absorption Costing, Net sales of Pacquiao Incorporated totaled P500,000 and the gross profit…

A: Gross profit under absorption costing = P500,000 x 35% = P175,000   Fixed manufacturing overhead…

Q: Lavender Company’s income under absorption costing was P 3,600 lower than its income under variable…

A: Variable production cost=Total variable cost-Variable selling cost=P 9 - P 1=P 8

Q: A review of Olaf Corporation's accounting records found that at a volume of 90,000 units, the…

A: The question is based on the concept of Cost Accounting.

Q: At the end of Nabirukan Co.’s first year of operations, 1,000 units of inventory remained on hand.…

A: Answer:   Option A.

Q: Presented below is Oxford Ltd.'s partial income statement for 20x5:  Item Amount Sales (39,800…

A: Here in this question, we are required to calculate how much units Offord Ltd needs to sale in order…

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: 1) Computation of sales volume to get target profit Sales Volume= Fixed Cost + Target…

Q: net income be higher under:

A: Option b is wrong because net income is lower under absorption costing system. Absorption costing…

Q: Oslo Company prepared the following contribution format income statement based on a sales volume of…

A: Degree of operating leverage = Contribution margin / Net operating income = $35000/4900 = 7.14

Q: income for the current year that will result from the discontinuance of Product T?

A: Evaluation of decision-making when product T is discontinued is showed below and net income / loss…

Q: Oslo Company prepared the following contribution format income statement based on a sales volume of…

A: Degree of Operating Leverage - It measures the how much operating income of a company will change…

Q: The following data relate to National Company for the year just ended: P750,000 Sales revenue Cost…

A: There are two type of costing systems which are being used. These are Absorption costing system and…

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: The Break Even Point In units would be calculate by using following formula : Break Even Point ( In…

Q: What would NUBD Corp. have reported as its income before income taxes if it had used variable…

A: Income as per variable costing can be calculated after deducting variable manufacturing overhead…

Q: National Co., is subject to a 40% income tax rate. The following data pertain to the period just…

A: Marginal Costing - Marginal Costing is the method of computing operating profit by bifurcating…

Q: Darby Company, operating at full capacity, sold 159,800 units at a price of $111 per unit during the…

A: 4. 5. Working notes:

Q: Rings Company has three product lines, A, B, and C. The following financial information is…

A: Pre Tax Operating Income (if Product Line C is Continued) = $15,500 + $31,500 - $950 = $46,050 Pre…

Q: Garrett Company provided the following information: Common fixed cost totaled $46,000. Garrett…

A: There are mainly two type of costs being incurred in business. One is variable costs and other one…

Q: Darby Company, operating at full capacity, sold 159,800 units at a price of $111 per unit during the…

A: Hey, since there are multiple requirements posted, we will answer first three requirements. If you…

Q: A condensed income statement for Gilbert, Inc. follows: (amounts are shown in thousands) Products H…

A: In order to determine the contribution margin, the variable cost is required to be deducted from the…

Q: Helmers Corporation manufactures a single product. Variable costing net operating income last year…

A: Given information, ●Variable costing net operating income last year = $91,000 This year=$109,000.…

Q: A. Determine the income (loss) before income taxes for the year 2011 under Absorption Costing?

A:

Q: The following information is available from the accounting records of Eva Corporation. Fixed costs…

A: The conceptual formula used:

Q: The following information regarding fixed production costs from a manufacturing firm is available…

A: Solution The incorrect statement is "Using variable costing, this firm will deduct no more than…

Q: Using Direct Costing Method, Laban Company had a net profit of ₱65,000 and ₱50,000 using Full…

A: SOLUTION-   EXPLANATION- CALCULATION OF FIXED MOH- FIXED MOH= NET PROFIT USING DIRECT COSTING METHOD…

Q: The condensed income statement for Hayden Corp. for the past year is as follows:   Product…

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: Below is the condensed income statement for Jay Tools for the past year:   Product   T1 T2…

A: Net income is the income which is computed by reducing all the operating expenses from the gross…

Q: Diamond Company has three product lines, A, B, and C. The following financial information is…

A: The effect can be measured as the difference between contribution margin and avoidable cost.

Q: Whitman Company has just completed its fi rst year of operations. The company’s absorption costing…

A: Variable costing seems to be a method being used in managerial as well as cost accounting that…

Q: Information concerning a company's products is as follows: Sales, $300,000; Variable costs,…

A: Answer) Calculation of Net Operating Income if Sales is $ 375,000 Net operating Income = (Sales X…

Q: The HASF Ink Ltd income statement for the preceding year is presented below except as noted the cost…

A: BEP (Units)= Fixed Cost/ Contribution per unit   Fixed Cost= Rs 100000 Contribution= Rs 200000 Total…

Q: The following information was extracted from the first year of absorption costin based accounting…

A: Total Variable cost = P50,000 Total Variable period cost = P30,000 Total Variable manufacturing cost…

Q: AJ Manufacturing Company incurred $50,500 of fixed product cost and $40,400 of variable product cost…

A: Cost of goods sold = Variable product costs + Fixed product costs Selling and administrative costs =…