Gulliver Company manufactures and sells one product and uses FIFO system. The following information provided by the company. Total costs were given on the first year, however no data on cost on year 2 and year 3. Fixed manufacturing costs are applied to units of product on the basis of the number of units produced each year. Year 1 Year 2 Year 3 Direct Materials P1.320.000 Direct Labor 480.000 Variable Manufacturing cost 600,000 Variable Selling and Admin Cost 2.220,000 Fixed Manufacturing Overhead 1.620.000 Fixed Selling and Admin Expense 2,070,000 Units Produced 8.000 7.500 10.000 Unit Sold @ P1,500 per unit 6.000 6.500 13.000 16. How much is the net income under Absorption Costing Year 2 a. P1.921,000 c. P2,008.750 e. None of the above b. P1.791.000 d. P1.948.000 17. How much is the net income under Variable Costing Year 2? a. P1,678,000 c. P1.548.000 e. None of the above b. P1.705.000 d. P1.765.750 18. How much is the net income under Throughput Costing Year 2 a. P1.570,000 c. P1.630.750 e. None of the above b. P1,543,000 d. P1,413.000