Jigs Company's industrial photo-finishing division, Rho, incurred the cost 2 points and expenses below in 2017. During 2017, Rho produced 300,000 units of industrial photo-prints, which were sold for P2.00 each. Jigs investment in Rho was P500,000 and P700,000 at January 1, 2017 and December 31, 2017, respectively. Jigs normally imputes interest on investments at 15% of average invested capital. Assume that net operating profit was P60,000 and that average invested capital was P600,000 for the year ended December 31, 2017, Rho's residual income (loss) was Fixed Direct Materials Direct Labor Factory overhead General, selling, and administrative Totals Variable P 200,000 150,000 70,000 30,000 P 450,000 P42,000 48,000 P 90,000 P150,000 O (P45,000) O P60,000 O(P30,000) The Taal Division of Volcano Company produces a high quality marker. Unit 2 points production costs (based on capacity production of 100,000 units per year) are presented below. The Taal Division is producing and selling at capacity. What is the minimum selling price that the division would consider as a transfer price to the Mayon Division on which no variable period costs would be incurred?* Direct materials Direct labor Overhead (20% variable) Other information Sales price P 60 25 15 120 P 88 P 91 P117 O P120