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A Company manufactures a professional grade vacuum cleaner. For 2019, the company had no price, spending, or efficiency variances, and writes off production-volume variance to cost of goods sold. Actual data for 2019 are given as follows:
Units produced 20,000
Units sold 19,000
Selling price P300
Variable costs:
Materials P40
Manufacturing labor 30
Manufacturing overhead 55
Marketing 40
Fixed costs:
Manufacturing P900,000
Selling and Administrative 750,000
REQUIRED:
Question 1. The inventoriable unit cost for internal reporting purposes under variable costing.
Question 2. The inventoriable unit cost for external reporting purposes under absorption costing.
Question 3. Operating income for 2019 under variable costing.
Question 4. Operating income for 2019 under absorption costing.
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