Accompany makes and sells a single product. At the begining of period 1, there are no opening inventory of the product, below is the data relating to the product for two periods.

Sales price. $6per unit

Variable production cost. $4 per unit

Fixed cost ($1500 if fixed production). $2000 per period

Normal output. 1,500 per period

Period. 1. 2

Unit sold. 1200. 1700

Production. 1500. 1400

Required:

Prepare profit statement for each period and for the two periods in total using Marginal and Absorption costing techniques