Little Guys produce a mini-kitchen called Tiny Tot, which is enjoying extensive popularity amongst young children. The following data is available for the month of July 2017: R 116 600 2 550 Selling price (per unit) Units in opening inventory Units manufactured Units sold Units in closing inventory Variable costs per unit: Direct materials 3 050 100 R12,00 Direct labor R50,00 Variable manufacturing overhead R6,50 R10,00 Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative R81 000 R14 000 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. Required: 3.1 Calculate the unit product cost for the month under variable costing. (4) 3.2 Calculate the unit product cost for the month under absorption costing. Page 3 of 4 3.3 Prepare an income statement for the month using the variable costing method. (6) 3.4 Prepare an income statement for the month using the absorption costing method. (6) 3.5 Reconcile the variable and absorption costing net operating incomes for the month