A company has the following sales and cost data: Production in units Sales in units Ending...

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A company has the following sales and cost data: Production in units Sales in units Ending inventory (FIFO) Year 1 Year 2 40,000 50,000 30,000 30,000 10,000 30,000 Unit sales price Unit variable cost Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Year 3 P1.00 P0.50 P4,000 per year P0.03 P1,000 0 30,000 per unit per year 0 Requirement: 1. Prepare income statement for each of the 3 years A company has the following sales and cost data: Production in units Sales in units Ending inventory (FIFO) Year 1 Year 2 40,000 50,000 30,000 30,000 10,000 30,000 Unit sales price Unit variable cost Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Year 3 P1.00 P0.50 P4,000 per year P0.03 P1,000 0 30,000 per unit per year 0 Requirement: 1. Prepare income statement for each of the 3 years

Answer rating: 100% (QA)

To prepare the income statement for each of the three years we need to calculate the relevant figure... View the full answer