Factor Corporation provided the following partial income statements and detailed information for the past two years:

2021 2020 Changes

Sales P900,000 P480,000 P420,000

Cost of sales 396,000 240,000 156,000

Gross income 504,000 240,000 264,000

Unit selling price P375 P300

Unit cost P165 P150

Quantity sold 2,400 1,600

How much is the price variance?

Group of answer choices

P180,000 favorable

P144,000 unfavorable

P180,000 unfavorable

None of the other choices

P144,000 favorable

Refer to the case of Factor Corporation. How much is the volume variance?

Group of answer choices

P240,000 favorable

P84,000 favorable

P120,000 favorable

P240,000 unfavorable

None of the other choices