Question 3 Hajia Nima Class Assignment Hajia Nima makes and sells canned Fuula which has the following standard production cost. GH Direct labour 3 hours at GH 6 hour Direct materials 28 Production variable 18 4 kilogram at GH 7 per kg overhead: 3 per Standard Fixed production 69 cost per unit 20 Normal output is 16,000 units per annum. Variable selling, distribution and administration cost are 20 percent of sales values. Fixed selling, distribution and administration cost are GH180, 000 per annum. There are no units in finished good inventory at 1st October 2015. The fixed overhead expenditure is spread evenly throughout the year. The selling price per unit is GH140. Production and sales budgets are as follows Six month ending Six Month ending 31 March 2016 30 September 2016 Production 8,500 7,000 Sales 7,000 8,000 Required: Prepare profit statements for each of the six-monthly periods, using marginal and Absorption costing techniques.