B. ABC Company, a manufacturing firm produces a single product. The following information has been taken from the company's production, sales, and cost records for the year 2000:

Production in units	30,000
Sales in units	?
Ending finished goods inventory in units	?
Sales	P650,000
Costs:
Advertising	P 90,000
Direct labor	160,000
Indirect labor	60,000
Raw materials purchased	80,000
Building rent (production uses 80% of the space; administrative and sales offices uses the rest)	50,000
Utilities, factory	35,000
Royalty paid for use of production patent, P1 per unit produced	?
Maintenance, factory	25,000
Rent for special production equipment, P6,000 per year plus P0.10 per unit produced	?
Selling and administrative salaries	100,000
Other factory overhead costs	11,000
Other selling and administrative expenses	20,000

	Beginning	Ending
Inventories:
Raw materials	P20,000	P10,000
Work in process	30,000	40,000
Finished goods	--0--	?

The finished goods inventory is being carried at the average unit production cost for the year. The selling price of the product is P25 per unit.

Required: 1. Prepare a schedule of cost of goods manufactured for the year.

2. Compute the following:

a. the number of units in the finished goods inventory at December 31.

b. the cost of the units in the finished goods inventory at December 31.

3. Prepare an income statement for the year.