oint and By-Products Unit 2 QUESTION 115 MARKS, 27 MINUTES) A company sold 56,000 units of its single product in a period for total revenue of N9700,000 in its first month of operations Finished inventory was 4,000 units in the period Costs in the period were Variable production N$ 2 80 per unit Variable selling NS 1 20 per unit Fixed production NS 252.000 (Fixed production is allocated on the actual number of units produced) Fixed administration NS 144,000 MARKS REQUIRED: 11 Calculate the flow of units, unit production cost according to Absorption and 5 unit production cost according to Variable costing 1.2 Prepare an income statement appropriate for external users which classifies 6 costs according to their product vs. period definitions 13 Prepare a reconciliation of the profit in 1.2 above to one you would have 4 calculated for internal reporting Explain what causes the difference in profit 15 TOTAL MARKS FOR QUESTION 1 AAM3692 counting 10 UNAM by-pro Calcun - Accoun