Factor Corporation provided the following partial income statements and detailed information for the past two...
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Accounting
Factor Corporation provided the following partial income statements and detailed information for the past two years:
2021 2020 Changes
Sales P900,000 P480,000 P420,000
Cost of sales 396,000 240,000 156,000
Gross income 504,000 240,000 264,000
Unit selling price P375 P300
Unit cost P165 P150
Quantity sold 2,400 1,600
How much is the price variance?
Group of answer choices
P180,000 favorable
P144,000 unfavorable
P180,000 unfavorable
None of the other choices
P144,000 favorable
Refer to the case of Factor Corporation. How much is the volume variance?
Group of answer choices
P240,000 favorable
P84,000 favorable
P120,000 favorable
P240,000 unfavorable
None of the other choices
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