Question: Please do required A and B There was no 2019 inventory, beginning. The expected normal production each year is 15,000 units. Total fixed manufacturing overhead

Please do required A and B There was no 2019 inventory,

Please do required A and B

There was no 2019 inventory, beginning. The expected normal production each year is 15,000 units. Total fixed manufacturing overhead each year are P120,000. Fixed selling and administrative expenses are budgeted at P65,000 yearly while variable selling and administrative expenses are expected to be 10% of sales. Required: a. Prepare a detailed income statements for the years ended December 31,2020 and 2019 under: 1. Direct Costing method 2. Full Costing method b. Reconcile the differences in net income for 2017 and 2016 for both method

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Andretti Company has a single product called a Dak. The company normally produces and sells 87,000 Daks cach year at a selling price of $64 per unit. The company's unit costs at this level of...

help Problem 11-18 (Algo) Relevant Cost Analysis in a Variety of Situations [LO11-2, LO11-3, LO11-4] Andretti Company has a single product called a Dak. The company normally produces and sells 88,000...

Andretti Company has a single product called a Dak. The company normally produces and sells 85,000 Daks each year at a selling price of $64 per unit. The company's unit costs at this level of...

Andrets Company has a single product called a Dak. The company normally produces and sells 89,000 Doks each year at a selling price of $62 per unit. The company's unit costs at this level of activity...

Andretti Company has a single product called a Dak. The company normally produces and sells 84,000 Daks each year at a selling price of $62 per unit. The company's unit costs at this level of...

Andretti Company has a single product called a Dak. The company normally produces and sells 89,000 Daks each year at a selling price of $60 per unit. The company's unit costs at this level of...

Andretti Company has a single product called a Dak. The company normally produces and sells 86,000 Daks each year at a selling price of $58 per unit. The company's unit costs at this level of...

Andretti Company has a single product called a Dak. The compony normally produces and selis 90,000 Daks each year at a selling price of $60 per unit. The company's unit costs at this level of...

find req1-req5 Andretti Company has a single product called a Dak. The company normally produces and sells 87,000 Daks each year at a selling price of $58 per unit. The company's unit costs at this...

Problem 13-18 (Algo) Relevant Cost Analysis in a Variety of Situations [LO13-2, LO13-3, LO13-4] Andrett Company has a single product called a Dak. The company normally produces and seili 89,000 Daks...

Among U.S. cities with a population of more than 250,000 the mean one-way commute to work is 24.3 minutes. The longest one-way travel time is New York City, where the mean time is 38.3 minutes....

1) Explain how a GI (Group Input) is set using I/O Setup and Operation handout or the voiced over Fanuc Training materials. (You will be given a password for the training materials or pick up a copy...

In a block in a block chain, what represents the hash of the previous block

Skills necessary for success in marketing include Multiple select question. analytical thinking advertising industry experience infallibility ability to work with others

Briefly describe the pros and cons of using performance appraisal information when conducting a person needs analysis. Do you think that HRD professionals should use performance appraisals to enhance...

Why is needs assessment information critical to the development and delivery of an effective HRD program?

Supervisors and coworkers are often asked to serve as trainers. Although they may be experts on the material they are teaching others, many times they are novices when it comes to understanding how...