Hipster Company manufactures a single product. The following are the data concerning its most recent month of operations: Selling Price RM 104.00 Variable Costs per unit: Direct Materials Direct Labor Variable Manufacturing Overhead Variable Selling and Administrative 26.00 37.00 5.00 10.00 Fixed Costs: Fixed Manufacturing Overhead Fixed Selling and Administrative 16,500.00 45,000.00 Production Volume Sales Volume Ending finished-goods inventory Units 3,300 3,000 300 There is no beginning finished-goods inventory. Required: Required: a) Compute the unit product cost for the month under i. variable costing. (3 marks) ii. absorption costing (4 marks) b) Prepare the contribution format income statements for the month using: i. variable costing (6 marks) ii. absorption costing (5 marks) c) Reconcile the variable costing and absorption costing net operating incomes. (4 marks) d) Explain the basic difference between absorption costing and variable costing from a product-costing perspective