G.Ltd had the following actual data for the year ending 31" Dec 2020and 2021 Units of finished goods Opening inventory production Sales Ending Inventory Additional Information (i) 33 38 8 (iii) (iv) (v) (vi) Required: Basic production data at standard costs for two years were Direct material Kshs 40.00 Direct Labour Kshs 32.00 Variable Factory Overheads Kshs 6.00 2020 2021 6,000 26,000 20,000 20,000 22,000 6,000 4,000 Standard variable cost per unit Kshs 78.00 Fixed manufacturing overheads were budgeted at Kshs .192,000/= at a production level of 12,000 units. Budgeted sales price per unit was Kshs 140.00 Selling and administration expenses were budgeted at Kshs 14 per unit sold and fixed cost was Kshs .160,000 per year. There was absolutely no variance from any standard variable cost or budgeted selling prices or budgeted fixed costs in the two years. There was no beginning or ending inventories or work in progress. (a) Prepare income expenditure account for 2020 and 2021 (i) Under marginal costing (ii) Under absorption costing (7marks) (8marks)