Buena Company manufactures a single product and has the following cost structure:

Variable costs per unit:

Direct materials -Php72

Direct labor -96

Variable manufacturing overhead - 24

Variable selling and administrative - 48

Fixed costs per month:

Fixed manufacturing overhead - Php2,400,000

Fixed selling and administrative costs - 1,400,000

The Company produces 24,000 units each month.

Assume that there are no beginning inventories and 24,000 units were produced and 23,600 units were sold in a month. If the unit selling price is Php420, by how much is income under variable costing higher/lower?