QUESTION 3 Given below is the Statement of Profit or Loss based on absorpotion costing for Teras Maju for the year ended 31st December 2019. Sales (40,000 x RM110) RM4,400,000 (-) Cost of goods sold: Beginning inventory (7,000 x RM72) RM504,000 Cost of goods manufactured (36,000 x RM72) RM2,592,000 Cost of goods available for sales RM3,096,000 (-) Ending inventory (3,000 x RM72) (RM216,000) Cost of goods sold RM2,880,000 (-) Manufacturing overhead over-applied (RM32.400) Adjusted cost of goods sold (RM2,847,600) Gross profit RM1,552,400 (-) Operational expenses: RM440,000 Variable sales and administration expenses (40,000 x RM11) Fixed sales and administration expenses RM554,500 Total operational expenses (RM994,500) Net profit RM557.900 Actual manufacturing overhead cost are RM75, 600. Amount of actual and applied variable manufacturing overhead cost are the same. Required: a) Calculate the following: i. Applied fixed manufacturing overhead costs. ii. Pre- determine fixed overhead rate per unit. b) Using the marginal costing method: i. Calculate the product cost per unit ii. Prepare the Statement of Profit or Loss for the month ended 31st December 2019. c) Reconcile the net profit under marginal costing and absorption costing for 2019