Q No# 2 (04 marks) The following data were taken from the records of a company. Period 1 Period 2 Period 3 30,000 38000 27000 Production(units) Sales 30.000 27000 38000 11,000 Opening stock Closing stock 11,000 1 Per unit cost are as follows: Direct material $ 1.5 Direct labor 1.0 Production overhead 3.0 Selling price per unit S9 Administrative overheads are fixed at $25000 and one third of the production overheads are fixed. Required Prepare separate income statements on full costing and variable costing