During the year 2020, Wouie Corporation's production was equal to its normal capacity of 1,000 units. It sold 900 units at a price of P50 per unit. The following costs were incurred during the year: Total Cost Cost per unit Direct Materials P12,000 P12 Direct Labor 10,000 10 Variable FOH 8,000 8 Fixed FOH 6,000 Variable Selling & Admin 4,500 Fixed Selling & Admin 3,000 3 Required: 1. Product Cost per unit under Absorption & Variable Costing. 2. Income under Absorption & Variable Costing. 3. Reconciliation of Absorption Income & Variable Costing Income

During the year 2020, Wouie Corporation's production was equal to its normal capacity of 1,000 units. It sold 900 units at a price of P50 per unit. The following costs were incurred during the year: Total Cost Cost per unit Direct Materials P12,000 P12 Direct Labor 10,000 10 Variable FOH 8,000 8 Fixed FOH 6,000 Variable Selling & Admin 4,500 Fixed Selling & Admin 3,000 3 Required: 1. Product Cost per unit under Absorption & Variable Costing. 2. Income under Absorption & Variable Costing. 3. Reconciliation of Absorption Income & Variable Costing Income

Name: Example 3: Wouie CorporationDuring the year 2020, Wouie Corporation's
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Description: Example 3: Wouie CorporationDuring the year 2020, Wouie Corporation's production was equal to its normal capacityof 1,000 units. It sold 900 units at a price of P50 per unit.The following costs were incurred during the year:Total CostCost per unitDi

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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