A company manufactures and sells a single product Budgeted data per unit of the product is Selling Price Variable Cost Faxed Production overhead R 8.50 3.70 2.90 20 MARKS The above fixed production overhead absorption rate is based on budgeted production of 12,000 units per period. Budgeted non-production overhead (all fixed) is R16, 800 per period. Actual sales and production for two periods has been: Sales Production Period 1 Period 2 11 600 units 12 400 units 12 000 units 12 300 units There was no stock at the start of Period 1. The selling price, unit vanable costs and total fixed costs were as per budget in both penods. REQUIRED 1.1 Prepare profit statements, using absorption costing, showing the actual results for each of the two periods. The company wishes to compare the results reported in (1.1) above with those that would be reported using marginal costing 1.2 Prepare profit statements, using marginal costing, showing the actual results for each of the two periods. (7)