What's the company's net income using absorption costing? Shalom Printing Press, a small family-owned business, began operations on March 1, manufacturing premium quality table calendars. The owners have expertise in printing but no accounting knowledge or experience. As the business newly hired junior accountant, you compiled the following data for the month of March. They have also requested an income statement Number of units produced 15,000 units Number of units sold 10,000 units Sales price P90.00 per unit Direct material cost 15.00 per unit Direct labor cost 6.00 per unit Variable manufacturing overhead 4.00 per unit Fixed manufacturing overhead P240,000 per month Selling cost P3.00 per unit Administrative expense P160,000 per month The owners want to understand these numbers and how they can use the information to run the business