S The comparative income statements of Ulit Company for the years ended December 31, 2011 and 2012 were given below: 2011 Sales 2012 P600,000 P690,000 Cost of Sales (400,000) (390,000) Gross Profit P200,000 P300,000 Expenses (100,000) (150,000) P100,000 P150,000 Income The selling price of the company's sole product decreased by 25%. Using 4-way analysis identify the following Sales price variance F)/Unfavorable (write U) Sales Volume Variance F)/Unfavorable (write U) Favorable (write Cost Price Variance (Ignore decimal points) Favorable (write F)/Unfavorable (write U) Favorable (write