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Leo Corporation has the following data for 2021: Per unit variable: Direct material P50 Direct labor P30 Variable Overhead P20 Fixed: Fixed manufacturing P 250,000 Fixed Selling P1,000,000 Fixed General and Administrative: P 700,000 Assuming production for the year is 25000 units and there is no beginning inventory, what is the 2021 before tax net income using absorption costing if 80% of the units produced were sold for a total consideration of P5,000,000 in 2021

Leo Corporation has the following data for 2021: Per unit variable: Direct material P50 Direct labor P30 Variable Overhead P20 Fixed: Fixed manufacturing P 250,000 Fixed Selling P1,000,000 Fixed General and Administrative: P 700,000 Assuming production for the year is 25000 units and there is no beginning inventory, what is the 2021 before tax net income using absorption costing if 80% of the units produced were sold for a total consideration of P5,000,000 in 2021

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter10: Cost Analysis For Management Decision Making
Section: Chapter Questions
Problem 4P
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Leo Corporation has the following data for 2021: Per unit variable: Direct material P50 Direct labor P30 Variable Overhead P20 Fixed: Fixed manufacturing P 250,000 Fixed Selling P1,000,000 Fixed General and Administrative: P 700,000 Assuming production for the year is 25000 units and there is no beginning inventory, what is the 2021 before tax net income using absorption costing if 80% of the units produced were sold for a total consideration of P5,000,000 in 2021?
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