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The income statement of a company as on 311t Dec 2007 has been given as under:- Production units Sales Units Sales @Rs. 12 Less: Cost of goods sold Variable manufacturing cost Fixed manufacturing cost Cost of Production Add: Opeing Stock (200 Units) Total Cost of goods available for sale Less: Closing Stock (400 Units) Cost of Goods Sold Gross Profit before adjustment Add: Over Absorption Gross Profit after Adjustment Less: Non-Manufacturing Cog Variable Selling Cost Fixed Office Cost Total non-manufacturing cost Net Profit Required: Income statement under variable costing. 1200 1000 Rs. 12000 Rs. 4800 Rs. 2400 Rs. 7200 Rs.1200 Rs. 8400 Rs. 6000 Rs. 6000 Rs. 6400 Rs. 1000 Rs. 1000 Rs. 2000 Rs. 4400