A company produces and sells a single product, the standard unit cost details of which are as follows:

Direct material

Direct labour

$2$ kilos $N$$$4\mathrm{.}5$ per kilo

Variable overhead

$3$ hours $xN$$$5$ per hour

$3$ hours $xN$$$3$ per hour

The total fixed overhead is budgeted at $N$$$90,000$ per month and is absorbed on a rate per unit basis.

The budgeted output per month is $15,000$ units.

The product has a standard selling price of $N$$$50$ per unit.

The following activity took place during January and February:

$\backslash$table$[[,$January,February$],[$Sales$,14,000$ units,$16,000$ units$],[$Production$,16,000$ units,$14,500$ units$]]$

There is an opening stock on $1$ January of $3,000$ units.

Required:

$($a$)$ Calculate the standard cost and profit for one unit of output.

$(5$ marks$)$

$($b$)$ Prepare profit statements for each month using

$($i$)$ Marginal costing

$(10$ marks$)$

$($ii$)$ Absorption costing

$(10$ marks$)$