Imax Limited manufactures and sells DVD's. The planned and actual results for 2018 is as follows: Budgeted cost Actual Per unit (R/u) Total (R) cost (R) Direct material 12.00 1 680 000 1 573 000 Direct labour 9.00 1 260 000 1 176 500 Total manufacturing overheads 9.00 1 260 000 1 235 000 Variable sales and administration cost 10.00 1 400 000 1 250 000 Fixed sales and administration cost 10.00 1 400 000 1 400 000 R50.00/u R7 000 000 R6 634 500 A budgeted volume of 140 000 units was used to determine the budgeted cost per unit. If budgeted production was 150 000 units, the total budgeted manufacturing overheads would have been R1 300 000. The under allocated fixed manufacturing overheads was R65 000. Beginning inventory completed goods 35 000 units (valued at budgeted cost) Production 130 000 units Sales @ R70 per unit 125 000 units The company uses a predetermined rate where applicable. Inventory is valued at actual cost, except for fixed manufacturing overheads that are included at the predetermined rate where applicable. Work-in-process is minimal and may be ignored. Imax Limited values inventory on a first-in-first-out basis (FIFO). Required: (3.1) Prepare the actual Statement of Comprehensive Income of 2018 for the following methods of reporting: (a)Direct costing, and (b)Absorption costing. (3.2) Is there a difference in results of (3.1) (a) and (b)? If so, explain using relevant figures