S The comparative income statements of Ulit Company for the years ended December 31, 2011 and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
S The comparative income statements of Ulit Company for the years ended December 31, 2011 and 2012 were given below: 2011 Sales 2012 P600,000 P690,000 Cost of Sales (400,000) (390,000) Gross Profit P200,000 P300,000 Expenses (100,000) (150,000) P100,000 P150,000 Income The selling price of the company's sole product decreased by 25%. Using 4-way analysis identify the following Sales price variance F)/Unfavorable (write U) Sales Volume Variance F)/Unfavorable (write U) Favorable (write Cost Price Variance (Ignore decimal points) Favorable (write F)/Unfavorable (write U) Favorable (write S The comparative income statements of Ulit Company for the years ended December 31, 2011 and 2012 were given below: 2011 Sales 2012 P600,000 P690,000 Cost of Sales (400,000) (390,000) Gross Profit P200,000 P300,000 Expenses (100,000) (150,000) P100,000 P150,000 Income The selling price of the company's sole product decreased by 25%. Using 4-way analysis identify the following Sales price variance F)/Unfavorable (write U) Sales Volume Variance F)/Unfavorable (write U) Favorable (write Cost Price Variance (Ignore decimal points) Favorable (write F)/Unfavorable (write U) Favorable (write
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Suppose a company's expected dividends are $1.78, $2.16, and $3.47 for the next three years and are expected to grow at a constant rate of 4.83% per year thereafter. What should the current value of...
-
The condensed financial statements of Eau Fraiche Company for the years 2010 and 2011 are presented below. Compute the following ratios for 2010 and 2011. (a) Current ratio. (b) Inventory turnover....
-
The group China Communications Construction is based in the Peoples Republic of China and principally engaged in infrastructure construction, infrastructure design, dredging and manufacturing of port...
-
Shortly after Murray began working in the tax department of the public accounting firm of Dewey, Cheatham, and Howe, he was preparing a tax return and discovered an error in last year's work papers....
-
The Franzini Food Company has a weekly payroll of $150,000 paid on Friday. On average, its employees cash their checks in the following manner: As treasurer of the company, how would you arrange your...
-
The hypothetical machine of Figure 3.4 also has two I/O instructions: 0011 = Load AC from I/O 0011 = Store AC to I/O In these cases, the 12-bit address identifies a particular I/O device. Show the...
-
Both Netcap and Jmart have the same retum standard deviation of 20 percent, and Netcap and Jmart returns have a correlation of -1. You invest half your funds in Netcap and the other half in Jmart....
-
Using 2008 as the base year, prepare a trend analysis of the following data, and tell whether the situation shown by trends is favorable or unfavorable. 2012 20 2010 2009 2008 Net sales Cost of goods...
-
Ratio Pepkor Holdings Truworths International Limited Limited 2021 2020 2019 2021 2020 2019 Solvency Debt to Equity Ratio 0,44 0,51 0,31 0.64 1.04 0.70 Debt to Asset Ratio 0,25 0,27 0,19 0.32 0.44...
-
An automotive warehouse stocks parts that are sold at nearby dealers. One particular part, a popular brand of oil filter, is purchased by the warehouse for $1.50 each. The fixed setup cost (of order...
-
Everyone who embarks on a career in industry or commerce aspires to become a director of their organisation, because then all their troubles are over! Directors just make a few decisions, swan around...
-
Li Nan has recently been appointed managing director of Pinger's plc, which is a company that supplies table tennis equipment to clubs and individuals throughout the UK and Europe. Li Nan is...
-
Can you think of any reasons why directors of UK pics found that their contracts were no longer to be open-ended under the new regime of corporate governance?
-
Outline the basic reasons why there should be openness regarding directors benefits and perks.
-
(i) Outline how the business performance review process may be used to evaluate the position of a dot.com company like Amazon UK. (ii) What are the limitations to the approach that you have outlined?
-
All depreciable assets are for 100% business use and Big Profits uses a low-value pool for all eligible assets. The closing value of the low-value pool at 30 June 2023 was $5,300. Big Profits...
-
For the next several days, take notes on your listening performance during at least a half-dozen situations in class, during social activities, and at work, if applicable. Referring to the traits of...
-
Visit SunGards web site, http://www.sungard.com, and research its recovery services offered for the following classes: High Availability, System Recovery, and End-User Recover. Write a report of your...
-
Micro Systems, a developer of database software packages, is a publicly held company and listed with the SEC. The company has no internal audit function. In complying with SOX, Micro Systems has...
-
Leigh Industries has an internal audit department consisting of a director and four staff auditors. The director of internal audit, Diane Bauer, reports to the corporate controller, who receives...
Study smarter with the SolutionInn App