The Bellview Corporation, which sells a single commodity, sh lowing operating results for a 3-year period: ales ost of Sales ross Profit perating Expenses et Income 2018 P4,500,000 2,925,000 P1,575,000 1,200,000 P375,000 2019 P6,000,000 4,080,000 P1,920,000 1,400,000 P520,000 2020 P6,20 4,21 P1,98- 1,50 P48 The selling prices of the commodity sold were as follows: in 2018, 019, P24.00; and in 2020, P25.00. UIRED: repare a summary of the detailed changes in gross profit for 2019 and ompared with the year immediately preceding in terms of volume chan
The Bellview Corporation, which sells a single commodity, sh lowing operating results for a 3-year period: ales ost of Sales ross Profit perating Expenses et Income 2018 P4,500,000 2,925,000 P1,575,000 1,200,000 P375,000 2019 P6,000,000 4,080,000 P1,920,000 1,400,000 P520,000 2020 P6,20 4,21 P1,98- 1,50 P48 The selling prices of the commodity sold were as follows: in 2018, 019, P24.00; and in 2020, P25.00. UIRED: repare a summary of the detailed changes in gross profit for 2019 and ompared with the year immediately preceding in terms of volume chan
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Exercise 5-15
The Bellview Corporation, which sells a single commodity, show the
following operating results for a 3-year period:
Sales
Cost of Sales
Gross Profit
Operating Expenses
Net Income
2018
P4,500,000
2,925,000
P1,575,000
1,200,000
P375,000
2019
P6,000,000
4,080,000
P1,920,000
1,400,000
P520,000
2020
P6,200,000
4,216,000
P1,984,000
1,500,000
P484,000
The selling prices of the commodity sold were as follows: in 2018, P22.50;
in 2019, P24.00; and in 2020, P25.00.
REQUIRED:
1. Prepare a summary of the detailed changes in gross profit for 2019 and 2020 as
compared with the year immediately preceding in terms of volume changes and
price changes for both sales and costs.
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