The gross profit margin percentage (rounded) was? Transcribed Image Text: Questions 5 to 8 are based on the Statement of Income of Davao, Inc. which represents the operating results for

The gross profit margin percentage (rounded) was? Transcribed Image Text: Questions 5 to 8 are based on the Statement of Income of Davao, Inc. which represents
the operating results for the current fiscal year ending December 31. Davao had sales of
1,800 tons of product during the current year. The manufacturing capacity of Davao’s
facilities is 3,000 tons of product. Consider each question’s situation separately.
Sales P900,000
Variable costs
Manufacturing
Selling costs 180,000
Total variable costs P495.000
Contribution margin P405,000
Fixed costs
Manufacturing
Selling
Administration
Total fixed costs
Net income before income taxes P157,500
Income taxes (40%)(63.000)
Net income after income taxes
P315,000
P 90,000
112,500
45,000
P247,500
P 94,500

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