27. Monex reported P65,000 of net income for the yearby using absorption costing. The company had nobeginning inventory, planned and actual productionof 20,000 units, and sales of 18,000 units. Standardvariable manufacturing costs were P20 per unit, andtotal budgeted ?xed manufacturing overhead wasP100,000. If there were no variances, net incomeunder variable costing would be: a. P15,000 c. P65,000b. P55,000 d. P75,000