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Aan Aerox L Casting for photocopier (b) A company produces and sells one product only which sells for 50 per unit. There were no stocks at the end of May and other information is as follows. Standard Cost per unit: Direct Material 18 Direct Wages 4 Variable production overhead 3 Budgeted and actual costs per month: - Fixed production overhend 99,000 Fixed Selling Expenses 14,000 Fixed administration expenses 26,000 Variable selling expenses. 10% of sales value Normal Capacity is 11,000 units per month The number of units produced and sold was: June July Units Units Sales 12,50. 12.804 1,000 Production 14,000 10.200 Prepare income statements for the quarter, using (1)Marginal costing (ii)Absorption costing (c) Reconcile the difference between the marginal and absorption costing calculated in (b) above MO abo