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How much is the total sales

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    Assignment ID: FG133135296

    Question 1 – The net income of Herbert Co. for the year 2022 was P50,000. Selling expenses were equal to 16% of sales and 20% of the cost of sales. All other expenses were 3% of sales. The cost of sales of Herbert Co. for the year 2022 was?

    Question 2 – Honasan Co. reported profit after tax of P420,000, Honasan’s income tax rate is 25%. Operating expenses for the year is 20% of sales and 50% of cost of sales. Other expenses were 5% of sales. How much is the total sales?

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