Solution-Compute the income before income taxes for the year

Compute the income before income taxes for the year

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Reference no: EM133138481

Question - Gemini Corporation has the following standard costs associated with the manufacture and sale of one of its products:

Direct material P4.00 per unit

Direct labor 3.20 per unit

Variable manufacturing overhead 1.80 per unit

Fixed manufacturing overhead P4.00 per unit (based on an estimate of 50,000 units per year)

Variable selling expenses 1.00per unit

Fixed SG&A expense P75,000 per year

During its first year of operations Anderson manufactured 50,000 units and sold 45,000. The selling price per unit was P26. All costs were equal to standard.

Based on variable costing, compute the income before income taxes for the year?

Reference no: EM133138481

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Compute the income before income taxes for the year

Reference no: EM133138481

Reference no: EM133138481

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