Gone Company manufactures three products R,S and T in a joint process. For every ten kilos of raw materials input, the output is five kilos of R, three kilos of S, and two kilos of T. During August, 50,000 kilos of raw materials costing P120,000 were processed and completed, with joint conversion costs of P200,000. Conversion costs are to be allocated to the products based on market values, while materials were based on units produced. To make the products salable, further processing which does not require additional raw materials was done at the following costs:

Product R P30,000

Product S P20,000

Product T P30,000

he unit selling prices are:

Product R P10

Product S P12

Product T P15

REQUIREMENT

1. The unit cost of Product R is?

2. Assumed all units are considered sold, compute the gross profit on sales for product S

3. Assuming all units of Product T are sold, and Selling and Administrative Expenses are 20% of sales, the net income from the sale of Product T is?