QUESTION 1 National Shabasat Company manufactures and sells one product. Given below is information that pertains to its first year of operations. Variable Costs per unit: Variable selling Variable Admin Variable Manufacturing overhead Direct Materials Direct labor AED3.00 AED2.00 AED3.50 AED 5.50 AED6.00 Fixed Costs per year Fixed Manufacturing overhead AED 30,000 Fixed Selling and administrative AED25,000 During its first year of operations, it produced 5,000 units and sold 4,000 units. The selling price of the company's pe Required: Assume the company uses variable costing: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. (3 marks) (13 marks) Assume the company uses absorption costing: c. Compute the unit product cost for the year. d. Prepare an income statement for the year. (4 marks) (16 marks) natin. A QUESTION 1 National Shabasat Company manufactures and sells one product. Given below is information that pertains to its first year of operations. Variable Costs per unit: Variable selling Variable Admin Variable Manufacturing overhead Direct Materials Direct labor AED3.00 AED2.00 AED3.50 AED 5.50 AED6.00 Fixed Costs per year Fixed Manufacturing overhead AED 30,000 Fixed Selling and administrative AED25,000 During its first year of operations, it produced 5,000 units and sold 4,000 units. The selling price of the company's pe Required: Assume the company uses variable costing: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. (3 marks) (13 marks) Assume the company uses absorption costing: c. Compute the unit product cost for the year. d. Prepare an income statement for the year. (4 marks) (16 marks) natin. A