QUESTION 2 (25 Marks) (a) Explain what you understand by marginal and absorption costing by highlighting the importance of both and complete the discussion by providing the contrast between both. (12 Marks) (b) Calculate the profit using absorption costing for the below: (7 Marks) c) "The marginal and absorption costing profits are always different and therefore, a reconciling profit is always required." Comment on the above statement with relevant examples