Question one (20 Marks) Data collected from the books of the company for the year ended 31/12/2020 are as follows: Units produced 11,000 units Units sold GHC10,000 Selling price per unit GHC30 Direct material cost GHC75,000 Direct wages GHC50,000 Production overhead costs: Fixed cost GHC10,000 Variable cost GHC30,000 Selling and distribution overheads: Fixed cost GHC15,000 Variable cost GHC 2 per unit (1) Compute the production cost per unit using: (a) Absorption costing 3 Marks (b) Marginal costing 3 Marks (11) Prepare the profit and loss account for the year ended 31/12/2020, using: (a) Absorption sting 5 Marks (b) Marginal costing 5 Marks (c) Explain the difference in profit disclosed by the two methods. 4 Marks