A company commenced business on 1 march 2018 making one product only. The cost card of the company's product is as follows; Direct material $8,direct labour$5,variable production overhead $2,fixed production overhead $5,production cost per unit $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 incurred in march was $15,000. The selling price per unit was $45 and the number of units produced and sold were:production 2,000 units and sold were 1,200 unit. Required; prepare the income statement for march 2018 using marginal and absorption costing