1. Given the following data (based on 15,000 units produced and sold per month): direct materials, P8; direct labor, P7; variable overhead, P2; and variable selling, P3. Fixed overhead costs totals...

Extracted text: 1. Given the following data (based on 15,000 units produced and sold per month): direct materials, P8; direct labor, P7; variable overhead, P2; and variable selling, P3. Fixed overhead costs totals PI5,000 per month and fixed selling and administrative expenses total P30,000 per month. If the company uses the absorption approach to pricing and desires a 50% mark-up, the target selling price per unit would be а. Р34.50 ь. Р33.50 c. P27.00 d. P23.00 e. None of these; answer is 2. Refer to no. 1. If the company uses the contribution approach to pricing and desires a 35% mark-up, the target selling price per unit should be а. Р29.70 ь. 22.95 c. P20.00 d. Р34.50 e. None of these; answer is