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QUESTION Damai Rasah Sdn Bhd makes and distributes plastic component for plumbing needs. The company has prepared a standard cost estimate for a component as follows: RM per unit Direct materials 0.40 Direct labour 0.20 Variable production overhead 1.50 Fixed production overhead 3.40 The component can be sold for RM10 per unit. The annual fixed production overhead is absorbed based on the budgeted normal production of 240,000 units per annum Variable selling expenses is RM0.50 per unit, while fixed administration expenses is RM30,000 per quarter. Production and sales for the second quarter of 2022 are as follows: April May June Production (units) 20,000 16,000 22,000 Sales (units) 16,000 18.000 24,000 There is no opening stock on 1 April 2022. All fixed costs incurred are assumed to be the same as budgeted and to be incurred evenly throughout the year. Required: a. Prepare the income statement for Damai Rasah Sdn Bhd for the month of May 2022 using marginal costing and absorption costing approach. (Clearly show the computation of production cost per unit under each approach). (25 marks) b. Explain the reason of the difference in the net profit according to both approaches in part (a) above. (Support the explanation with a profit reconciliation statement). (5 marks) (Total: 30 marks)