NFL Inc. produces sports equipment made to customers' specifications. The following data pertain to Job 101. Materials - Dept 1 6 month ending 6 month ending Jun 30, 2020 P100,000 P10/hour 4,000 hours Dec 31, 2020 P200,000 P15/hour 2.000 hours Direct labor rate-Dept 1 Labor hours used - Dept 1 Direct labor rate-Dept 2 Labor hours used - Dept 2 Machine hours used - Dept 2 P20//hour P30/hour 1,000 hours 3.000 hours 2.000 hours 1,000 hours Additional data: NFL Inc. determined that the amount of operating expenses is 10% of full production cost of job. The company has provided a net profit mark up of 20% based on sales. Applied factory overhead: Dept 1 = P5.00 per direct labor hour: Dept 2 = P2.00 per machine hour. What is the net profit if Job 101 was completed and sold in year 2020?