ILLUSTRATION 4 Co. A produces a single product and has the following budget. Selling price Direct materials Direct wages Variable overheads Fixed production overheads 10000 per month- Production volume 10 5000 units per month Production was 6000 units while 4800 units were sold. Assume that all costs were as budgeted Required Prepare the profit statement for the month under a) Absorption costing cove b) Marginal costing c) Prepare a reconciliation statement to reconcile the two reported total figures above