Calif Corp provided the following information during the year 2024:Sales (1200 units))Current year's production (1,500 units)Direct materialsP720,000P100/unitDirect LaborP200/unitManufacturing overhead (505fixed; 50%40% ofdirectlaborvariable)Selling, general and administrative expensesFixedP80,000P60,000VariableTask - Determine the operating income and ending inventories under the following:1. Full costing2. Variable costing3. Throughput costing

Name: Calif Corp provided the following information during the year 2024:Sa
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Description: Calif Corp provided the following information during the year 2024:Sales (1200 units))Current year's production (1,500 units)Direct materialsP720,000P100/unitDirect LaborP200/unitManufacturing overhead (505fixed; 50%40% ofdirectlaborvariable)Selling

The income statement is prepared to find net income or losses incurred during the period.

Business

Accounting

Calif Corp provided the following information during the year 2024: Sales (1200 units)) Current year's production (1,500 units) Direct materials Direct Labor Manufacturing overhead (505fixed; 50% variable) Selling, general and administrative expenses P720,000 P100/unit P200/unit 40% of directlabor P80,000 P60,000 Fixed Variable Task – Determine the operating income and ending inventories under the following: 1. Full costing 2. Variable costing 3. Throughput costing

Calif Corp provided the following information during the year 2024: Sales (1200 units)) Current year's production (1,500 units) Direct materials Direct Labor Manufacturing overhead (505fixed; 50% variable) Selling, general and administrative expenses P720,000 P100/unit P200/unit 40% of directlabor P80,000 P60,000 Fixed Variable Task – Determine the operating income and ending inventories under the following: 1. Full costing 2. Variable costing 3. Throughput costing

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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