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What would be the net income

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Question - Smart Company produced 100,000 units of product and sold 75,000 units at P3.00 per unit in 2021. Variable unit costs are: manufacturing - P1.60; selling - P0.15. Fixed costs for 2021 include P30,000 of fixed manufacturing costs and P41,250 of fixed selling and administrative expenses. What would be the net income for 2021, using absorption costing? What would be the net income for 2021, using variable costing?

Reference no: EM133188934

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