Chaman Ice Cream Company produced flavoured ice cream which is packed in charming cups of 100 grams and sold to customers. The following costs are incurred: Direct material Rs. 20 per cup Direct Labour Rs. 5 per cup Variable overheads Rs. 10 per cup Fixed overheads Rs. 150,000 per month Variable selling expenses Rs. 2 per cup Fixed administrative expenses Rs. 120,000 per month The company produced and sold the following quantity of ice cream cups:- Particulars First month Second month Production 10,000 cups 12,000 cups Sale 9,000 cups 12,500 cups The selling price of each cup of ice cream is amounting to Rs. 100. Required: a) Compute the production cost of each ice cream cup under absorption costing and under variable costing system. b) Prepare income statement under absorption costing and under variable costing for each month. c) Prepare reconciliation statement of reported results for each month under absorption and variable costing. d) Which of the income statements should be used by the company for external