Reference no: EM132903116
Tulip Company had the following costs for 2020:
Raw materials P700,000
Direct labor P100,000
Miscellaneous FOH P80,000
Depreciation on machines P40,000
Rent for the factory building P50,000
Rent for dales office P30,000
Depreciation on store equipment P20,000
Problem 1: How much of those costs should be inventoried under absorption (A) and variable (V) costing methods?
Select one:
a. (A) P1,020,000; (V) P880,000
b. (A) P1,000,000; (V) P880,000
c. (A) P930,000; (V) P800,000
d. (A) P970,000; (V) P800,000
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