South East Corp. produces D-2 toys with the following unit cost: Direct Materials 24.00 Direct labor P6.00 Factory overhead Variable P3.00 Fixed (based on a normal capacity of 10,000 units) P2.00 Beginning inventory 2,000 units Production 8,000 units Units sold (selling price P50) 7,000 units Additional expenses Variable selling and administrative P60,000 Fixed selling and administrative P35,000 How much are the net income under absorption costing and variable costing methods