QUESTION 4 (13 Marks) Syarikat Din Sdn Bhd produces and sells bicycles for kids. The following costs incurred for the year 2018: RM 10 325,000 Selling and administrative expenses: Variable per unit Fixed (total) Manufacturing costs (per unit) Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead (total) 190 40 25 350,000 During the year, the company produced 35,000 units of bicyde, and sold 34,000 units at a price of RM350 per unit. There was no beginning inventory in 2018 Required: a) Prepare an income statement for year 2018 using absorption costing method (6 marks) b) Prepare an income statement for year 2018 using variable costing method. (5 marks) c) Reconcile the absorption costing and variable costing net operating income figures in and (b) above. (2 mars