please refer to the following question. show your solution as well.

WV Corp. began its operations on January 1, 2020. It produces a single product that sells for P13.50 per unit. The Company uses an actual (historical) cost system. During the year, 150,000 units were produced and 135,000 units were sold. There was no work-in-process inventory at December 31, 2020. Manufacturing costs and selling and administrative expenses for 2020 were as follows: Fixed Costs Variable Costs Raw Materials P3.50 per unit produced Direct Labor P2,50 per unit produced Factory Overhead P195,000 P1.00 per unit produced Selling and Administrative P 140,000 P1.20 per unit sold What amount would VV's operating income be using variable costing method? Select one: P702,000 P715,500 P380,500 P400,000 What would WV's operating income be for 2020 under the absorption costing? Select one: P702,000 P715,000 P380,500 P400,000 The cost of ending inventory under the two costing methods were: Select one Absorption Costing P124,500 Variable Costing P105,000 Absorption Costing 105,000 Variable Costing P124,500 Absorption Costing 142,500 Variable Costing P123,000 Absorption Costing 123,000 Variable Costing P142,500