8. with complete solutions please

Question 8 1 pts Bidoof Books, Inc. is a major bookseller for four nearby colleges. The income statement for the quarter of the year is presented below: Bidoof Books, Inc Income Statement For the quarter ended September 30, 2021 Sales P 800,000 Less: Cost of Goods Sold 560,000 Gross Margin P 240,00C Less: Operating Expenses Selling Expenses P100,000 Administrative Expenses 110,000 210,000 Net Operating Income P 30,000 On average, a book sells for P400. Cost of goods sold is entirely variable. Unit variable selling expenses are P30 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed. The TOTAL FIXED COSTS for September 2021 amount to P