Question: The following information was extracted from the first year absorption-based accounting records of Enigma Corporation Total fixed costs incurred P100,000 Total variable costs incurred 50,000

The following information was extracted from the first year absorption-based accounting records of Enigma Corporation

Total fixed costs incurred P100,000

Total variable costs incurred 50,000

Total period costs incurred 70,000

Total variable period costs incurred 30,000

Units produced 20,000

Units sold 12,000

Unit sales price P12

2. If Enigma Corporation had used variable costing in its first year of operations, how much income (loss) before income taxes would it have reported?

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