A company provided the following partial income statements and detailed information for the past two years YEAR 2021 2020 Changes Sales P900,000 P480,000 P420,000 Cost of Sales 396,000 240,000 156,000 Gross Income 504,000 240,000 264,000 Unit Selling Price P375 P300 Unit cost 165 150 Quantity sold 2,400 1,600 How much is the price variance? a. 180,000 Favorable b. 180,000 Unfavorable
A company provided the following partial income statements and detailed information for the past two years YEAR 2021 2020 Changes Sales P900,000 P480,000 P420,000 Cost of Sales 396,000 240,000 156,000 Gross Income 504,000 240,000 264,000 Unit Selling Price P375 P300 Unit cost 165 150 Quantity sold 2,400 1,600 How much is the price variance? a. 180,000 Favorable b. 180,000 Unfavorable
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 24E: Rosenberry Company computed the following revenue variances for January: Revenue price variance...
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A company provided the following partial income statements and detailed information for the past two years
YEAR | 2021 | 2020 | Changes |
Sales | P900,000 | P480,000 | P420,000 |
Cost of Sales | 396,000 | 240,000 | 156,000 |
Gross Income | 504,000 | 240,000 | 264,000 |
Unit Selling Price | P375 | P300 | |
Unit cost | 165 | 150 | |
Quantity sold | 2,400 | 1,600 |
How much is the price variance?
a. 180,000 Favorable
b. 180,000 Unfavorable
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