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Emong Candy Company offers a coffee mug as a premium for every ten 50-cent candy bar wrappers presented by customers together with P1.00. The purchase price of each mug to the company is 90 cents; in addition it costs 60 cents to mail each mug. The results of the premium plan for the years 2019 and 2020 are as follows: 2019 2020 Coffee mugs purchased 480,000 400,000 Candy bars sold 3,750,000 4,500,000 Wrappers redeemed 1,900,000 2,800,000 2019 wrappers expected to be redeemed in 2020 1,300,000 2020 wrappers expected to be redeemed in 2021 1,800,000 10. The premium expense for the year ended December 31, 2020 is a. P165,000 c. P495,000 b. P230,000 d. P690,000 11. The inventory of premium mugs as of December 31, 2020 is a. P369,000 C. P423,000 b. P410,000 d. P540,000 12. The estimated liability for premiums as of December 31, 2020 is a. p 90,000 c. P165,000 b. P162,000 d. P270,000