A manufacturing company produces a single product. The following forecast of sales, production and stock levels for the coming two months are as follows: MONTH 1 units MONTH 2 units Production Sales 10000 11000 9500 11400 Opening stock 200 700 Closing stock 700 300 Direct materials Direct labour Variable factory overhead Fixed factory overhead Production cost Variable selling overhead Fixed selling overhead Net profit Selling price Per unit RM 2221713 12 The above unit cost for fixed factory overhead and fixed selling overhead are based on a monthly budget of 10000 units produced and sold. Required: i. Prepare budgeted profit and loss account for Month 1 and Month 2 in tabular format using the absorption costing principle (10 marks) ii. Prepare budgeted profit and loss account for Month 1 and Month 2 in tabular format using the marginal costing principle (10 marks) iii. Reconcile the profits of both the methods for month 1 and 2 and explain the differences in the profit between the absorption costing and marginal costing in each of the two months