Q$.3$ XY Limited manufactures and sells a single product. The selling price and costs for the year ended

$31$ December $2013$ were as follows:

$\backslash$table$[[,$Rs$.$ per unit$],[$Selling price,$1,600],[$Direct material,$630],[$Direct labour,$189],[$Production overheads $(40\%$ fixed$),220],[$Selling and distribution overheads $(60\%$ fixed$),165]]$

Other information is as follows:

$($a$)$ During the year, $12,000$ units were produced.

$($b$)$ The opening and closing stocks were $4,000$ and $3,000$ units respectively

$($c$)$ Fixed overhead cost per unit is based on normal capacity which is $15,000$ units.

$($d$)$ Overhead costs have increased by $10\%$ over the previous year and raw material and labour by

$5\%.$

$($e$)$ The company uses FIFO method for costing its inventory.

Required:

Profit and loss account for the year ended $31$ December $2013$ under absorption costing and marginal costing.

$(14)$

$(02)$

Note: if there is no information then assume that normal capacity is equal to budgeted capacity.