BoyTox Company sells its product for RM66 each. The current production level is 25,000 units, although only 20,000 units are anticipated to be sold.

Variable cost per unit:

Direct materialRM12.00

Direct labourRM18.00

Variable production overhead RM9.00

Selling and administrative expensesRM6.00

Additional information:

Fixed production overhead RM180,000

Fixed selling and administrative expenses RM60,000

Required:

Prepare income statement using marginal and absorption method.