For revision purpose only (please do in excel) - Management Accounting

At the end of October 2018, there were 9,000 units of a product manufactured by Renault Trucks. The company has a budgeted capacity of 14,000 units and during the month, one unit of the product was sold for $560. Production and sales for the month amounted to 12,800 units and 20,000 units respectively. Administrative, selling and fixed production overheads were estimated at $200,000, $275,000 and $560,000 respectively. The following information relating to the product was also extracted from the financial records:

Cost per unit

Details	$
Direct materials	150
Direct labour	120
Variable overheads	80
Total	350

Required:

1. Determine the amount of stock in store at the start of October.
2. Calculate the full cost per unit of production for October 2018.
3. Prepare profit statement for the month using Marginal Costing.
4. Prepare profit statement for the month using Absorption Costing.
5. Prepare a reconciliation of the profits using the above costing methods. Strictly for revision purpose