QUESTION $3$

Alokome Plc is a company that produces and sells one product "Iga". Information relating to the operations of Alokome Plc for the first two months of $2023$ are as follows:

i$)$ Iga sells for GH$$500\mathrm{.}00$ per unit.

ii$)$ There were no inventions of Iga at the end of December $2022.$

iii$)$ The following are other relevant data:

$\backslash$table$[[$Standard cost per unit of Iga:,GH$,],[$Direct material and wages,,$220],[$Variable production overhead,$30,]]$

Budgeted and actual costs per month:

$\backslash$table$[[$Fixed production overhead,$990,000],[$Fixed selling and administration expenses,$400,000],[$Variable selling expenses,$12\mathrm{.}5\%$ of sales$]]$

Normal capacity $110,000$ units per month

$\backslash$table$[[$Number of units produced and sold:,January,February$],[$Sales $($units$),128,000,110,000],[$Production $($units$),140,000,102,000]]$

Required: $$

Using the information above, prepare in a columnar form profit statements for January and February $2023$ using:

a$)$ Marginal costing

b$)$ Absorption costing