ASSIGNMENT INSTRUCTIONS: ATTEMPT ALL QUESTIONS QUESTION 1 Kiwenkira & Son Ltd makes and sells a single product marketed under a brand name Kiwetonic for the West African sub region and has total production capacity of 30,000 units per month. The budget for January 2020 contained the following information: 27.000 Normal capacity (Units) Variable costs per unit: Production (GH) 110 Selling and distribution (GH) 25 Fixed overheads: Production (GH) 756,000 Selling and administration (GH) 504,000 The actual operating data for January 2020 is as follows: Production 24,000 units Sales at GH 250 per unit 22,000 units Opening inventory of finished goods 2,000 units During the month of January 2020, the variable factory overheads exceeded the budget by GH 120,000 Required: (a) Prepare profit statement for the month of January using: (i) Marginal costing: and (5 marks) (5 (ii) Absorption costing techiques marks) (b) Reconcile the difference in profits (if any), under the two techeques (5 marks) [Total = 15 marks]