JRM Inc., which has only one product, provided the following data for April: Sales @ P74/unit P636,400 Variable costs per unit: Fixed costs: Direct materials P12 Factory overhead P176,000 Direct labor...

Required:

1. Unit product cost under variable and absorption costing approach, respectively, must be?
2. Contribution margin for the month under the variable costing approach is?
3. Gross margin for the month under the absorption costing approach is?
4. Period cost for the month under the variable costing approach is?
5. Period cost for the month under the absorption costing approach is?

Extracted text: JRM Inc., which has only one product, provided the following data for April: Sales @ P74/unit P636,400 Variable costs per unit: Fixed costs: Direct materials P12 Factory overhead P176,000 Direct labor 32 Selling & administrative 8,600 Factory overhead 2 Selling & administrative 6 There are 200 units of inventory remaining at the end of April.