St. Andrew Craft Dealers is a manufacturing company that produces a single product. At the end of January 2010 the company had closing stock of 5,000 units. The following information was taken from the company's books for the month of February 2010: Direct material cost per unit, Direct labour cost per unit, Variable overhead cost per unit, Fixed overhead cost Sales price per unit, S 200 150 50 600,000 750 During February 2010 the company produced 12,000 units and 11,000 units were sold. Administrative and selling overheads amounted to $80,000 and $70,000 respectively Required: a) Calculate the value of the opening stock b) Prepare profit statement using variable/marginal costing techniques for February 2010. (8 marks), c) Prepare profit statement using absorption costing techniques for the month of February 2010. (8 marks), d) Outline the basic difference between marginal costing and absorption costing methods, of product costing. (4 marks),