Problem 2: (Segmented Income Statement) PRC Corporation is currently producing and selling two products, Safe and Guard. The following data were gathered from PRC's previous year's operations: The company was able to sell 20,000 Safe at a selling price of P20 each while 10,000 Guard was sold at a selling price of P50. The contribution margin ratio of Safe and Guard are 40% and 30% respectively. Each product has separate product managers which receives an annual salary of P 20,000 each. The product manager is in charge of sales force utilization and compensation. Total employee benefit expense for the period amounted to P 80,000 and P 50,000 for Safe and Guard, respectively. The product managers are also in charge of the advertising of each product. Direct advertising expenses for Safe amounted to P 15,000 while for Guard, P 9,000. Other direct fixed costs amounted to P 10,000 and P 5,000 for Safe and Guard, respectively. Common corporate overhead expenses totaled P 80,000 for the year. It is the company's policy to allocate common corporate overhead based on total sales