The following data are available from the accounting records of Suwanee Co. for the month ended May 31, 2012. 17,000 units were manufactured and sold during the a ccounting period at a price of P 60 per unit. There was no beginning inventories and all units were completed (no work in process).  

 

Cost	Total Cost	Number of Units	Unit Cost
Manufacturing costs:
Variable	P 442,000	17,000	P 26
Fixed	170,000	17,000	10
Total	P 612,000		P 36
Selling and administrative expenses:
Variable (P 2 per unit sold)			P 34,000
Fixed			32,000
Total			P 66,000

 

(a)	Prepare a variable costing income statement.
(b)	Prepare an absorption costing income statement.