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can you please do it in an accounting format Activity 1 A company produces and sells a single product, the standard unit cost details of

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Activity 1 A company produces and sells a single product, the standard unit cost details of which are as follows: Direct material 2 kilos x $4.5 per kilo Direct labour 3 hours x $5 per hour Variable overhead 3 hours x $3 perdhour The total fixed overhead is budgeted at $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 $50 per unit. The following activity took place during January and February January February Sales 14,000 units 16,000 units 16,000 units 14.500 units There is an opening stock on 1 January of 3,000 units. Required: (11) Calculate the standard cost and profit for one unit of output (5 marks) January February Sales 14,000 units 16,000 units 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) Prepare profit statements for each month using: 0 (ii) marginal costing absorption costing (16 marks) (c) Prepare a statement reconciling the marginal with the absorption profit for the month. (4 marks)

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