QUESTION 4 Tela Berhad manufactures high quality batik silk for the Malaysian fashion industry. Over the years, several seasonal collections have been introduced to the local market. One of the more popular collections in the first quarter of year was the Bella collection. The following costs and production data are available for the first quarter of 2022: Production Costs Direct material costs Direct labour costs RM per unit 5.00 10.00 RM per quarter 2,100 5,400 3,025 7,500 Variable overhead costs Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses Production Units (packages) 600 Tela Berhad sold 550 units (packages) of the Bella collection throughout the first quarter of 2022 at a wholesale price of RM55 per unit. Required: a) Calculate the product cost per unit of Bella for the first quarter of 2022 using: (i) absorption costing (ii) variable costing (4 marks) b) Prepare Income Statements for the Bella collection using: (i) (ii) absorption costing variable costing Show ALL workings on the Costs of Goods Sold. (11 marks) c) Reconcile the absorption costing and the variable costing net income/(loss) and interpret the difference (if any). (4 marks)