Aqua Man Company manufactures and sells a single product. Planned and actual production in its first year of operation was 100,000 units. Planned and actual costs for the year were as follows:...

Aqua Man Company manufactures and sells a single product. Planned and actual production in its first year of operation was 100,000 units. Planned and actual costs for the year were as follows:

Manufacturing Non-manufacturing

Variable  P600,000 P500,000

Fixed P400,000 P300,000

The company sold 85,000 units of product at a selling price of P30 per unit. Using absorption costing, the company’s operating profit was