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PLEASE ANSWER ASAPPPPPPP!!!!!!!!!!!!!!!! A company commenced business on 1 March making one product only,...

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Accounting

imagePLEASE ANSWER ASAPPPPPPP!!!!!!!!!!!!!!!!

A company commenced business on 1 March making one product only, the cost card of which is as follows; Direct labor Direct material Variable production overhead Fixed production overhead Standard production cost $5 $8 $2 $5 $20 The fixed production overhead figure has been calculated on the basis of a budgeted normal output of 36,000 units per annum. The fixed production overhead actually incurred in March was $15,000 Selling, distribution and administration expenses are: Fixed $10,000 per month Variable 15% of the sales value The selling price per unit if $50 and the number of units produced and sold were: Production 2,000 Sales 1,500 Prepare the marginal costing statements of profit or loss for March. (20 marks) Prepare the absorption costing statements of profit or loss for March (20 marks)

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