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The contribution format income statement of Goma Corporation follows: Goma Corporation Income Statement For the Quarter Ended March 31 Sales (28,000 units). Variable expenses: Variable cost of goods sold... Variable selling and administrative . Contribution margin . Fixed expenses: Fixed manufacturing overhead... Fixed selling and administrative .. Net operating loss....... During the period, the company had no beginning inventory but had ending inventory valued at P33,000 using the variable costing approach. P1,120,000 P 462,000 168,000 630,000 490,000 P 300,000 200,000 500,000 P (10,000) ....

The contribution format income statement of Goma Corporation follows: Goma Corporation Income Statement For the Quarter Ended March 31 Sales (28,000 units). Variable expenses: Variable cost of goods sold... Variable selling and administrative . Contribution margin . Fixed expenses: Fixed manufacturing overhead... Fixed selling and administrative .. Net operating loss....... During the period, the company had no beginning inventory but had ending inventory valued at P33,000 using the variable costing approach. P1,120,000 P 462,000 168,000 630,000 490,000 P 300,000 200,000 500,000 P (10,000) ....

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter7: Variable Costing For Management analysis
Section: Chapter Questions
Problem 5E: On April 30, the end of the first month of operations, Joplin Company prepared the following income...
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1. Compute the unit product cost under absorption costing. 2. Compute the net income under absorption costing. 3. What will be the value of the ending inventory if the company is using absorption costing?
The contribution format income statement of Goma Corporation follows: Goma Corporation Income Statement For the Quarter Ended March 31 P 1,120,000 Sales (28,000 units). . Variable expenses: Variable cost of goods sold.... Variable selling and administrative. Contribution margin.. Fixed expenses: Fixed manufacturing overhead.. Fixed selling and administrative. Net operating loss... During the period, the company had no beginning inventory but had ending inventory valued at P33,000 using the variable costing approach. P 462,000 168,000 630,000 490,000 P 300,000 200,000 500,000 P (10,000)
Transcribed Image Text:The contribution format income statement of Goma Corporation follows: Goma Corporation Income Statement For the Quarter Ended March 31 P 1,120,000 Sales (28,000 units). . Variable expenses: Variable cost of goods sold.... Variable selling and administrative. Contribution margin.. Fixed expenses: Fixed manufacturing overhead.. Fixed selling and administrative. Net operating loss... During the period, the company had no beginning inventory but had ending inventory valued at P33,000 using the variable costing approach. P 462,000 168,000 630,000 490,000 P 300,000 200,000 500,000 P (10,000)
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