Leo Corporation has the following data for 2021: Per unit variable: Direct material P50 Direct labor P30 Variable Overhead P20 Fixed: Fixed manufacturing P 250,000 Fixed Selling P1,000,000 Fixed General and Administrative: P 700,000 Assuming production for the year is 25000 units and there is no beginning inventory, what is the 2021 before tax net income using absorption costing if 80% of the units produced were sold for a total consideration of P5,000,000 in 2021

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A:

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