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A company manufactures and sells two products A and B. The following is available. Sales prices (each) A K15 B K20 Labour (unit) K2

A company manufactures and sells two products A and B. The following is available. Sales prices (each) A K15 B K20 Labour (unit) K2 (1 hour) K4 (2 hours) Variable production overheads K3 K6 Material K4 K5 Production quantities: November 700 800 December 350 500 Quantities sold: November 600 700 December 400 400 Fixed overheads November K4,600 December K2,700 Required You are required to prepare statements for November and December showing profit and closing stock valuations using the following methods: (i) Marginal costing (ii) Absorption costing

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