Absorption Costing Income Statement (Conversion from Variable Net Income) 4. LEGAZPI COMPANY manufactures and sells premium tomato juice by the gallon. LEGAZPI just finished its first year of operations. The following data relates to this first year: Number of gallons produced Number of gallons sold Sales price Unit product cost under variable costing Total contribution margin Total fixed manufacturing overhead cost Total fixed selling and administrative expense REQUIREMENT: Using the absorption costing method, prepare Succulent Juice Company's income statement for the year. 75,000 70,000 P3.00 per gallon P1.45 per gallon P84,000 P63,000 P10,500

Absorption Costing Income Statement (Conversion from Variable Net Income) 4. LEGAZPI COMPANY manufactures and sells premium tomato juice by the gallon. LEGAZPI just finished its first year of operations. The following data relates to this first year: Number of gallons produced Number of gallons sold Sales price Unit product cost under variable costing Total contribution margin Total fixed manufacturing overhead cost Total fixed selling and administrative expense REQUIREMENT: Using the absorption costing method, prepare Succulent Juice Company's income statement for the year. 75,000 70,000 P3.00 per gallon P1.45 per gallon P84,000 P63,000 P10,500

Name: Absorption Costing Income Statement (Conversion from Variable Net Inc
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Description: Absorption Costing Income Statement (Conversion from Variable Net Income)4.LEGAZPI COMPANY manufactures and sells premium tomato juice by the gallon. LEGAZPI just finishedits first year of operations. The following data relates to this first year:Nu

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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