Question 1 During the year ended 30 June 2022, Salah Producer manufactured 9,000 units of products and sold 8,000 units at RM40 per unit. Physical inventory check had the following finished goods inventory as at: 1 July 2021 1,500 units 30 June 2022 2,500 units Variable cost incurred by the factory was RM18 of which RM15 is related to manufacturing cost and remaining is related to selling and administrative cost. Total fixed cost incurred during the year was RM60,000, of which 75% is related to manufacturing cost and remaining is related to selling and administrative cost. Required to: a. prepare a profit loss statement for the year using absorption costing method. b. prepare a profit loss statement for the year using variable costing method. c. explain to Salah Producer on why it should prepare profit loss statement using absorption costing and variable costing at the same time.