QUESTION 2 Lassly Bhd. is the producer of gift and accessories products. Details of the operations for 2020 are shown below: Sales units Production units Selling price per unit Normal units Fixed manufacturing overhead per year Variable selling and administrative expenses per unit Fixed selling and administrative expenses per year Direct material per unit Direct labor per unit Variable manufacturing overhead per unit 45,000 60,000 RM35 50,000 RM250,000 RM4 RM300,000 RM10 RM4 RM2 Required: a) Compute the product cost per unit by using variable and absorption costing method. (5 marks) b) Prepare Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020 using absorption costing. (10 marks) Continued... NR 1/3 PMA0064 ESSENTIALS OF MANAGEMENT ACCOUNTING 9 MARCH 2021 c) Prepare Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020 using variable costing. (10 marks)