THIS QUESTION SHALL BE ANSWERED WITHIN 35 MINUTES. QUESTION 2 Dates Berhad began operations in 2020, having a production target of 60,000 units. Actual production totalled 60,000 units, and the company sold 95% of its manufacturing output at RM50 per unit. The following costs were incurred in the year 2020 Manufacturing Direct material used RM240,000 Direct labour 480,000 Variable manufacturing overhead 360,000 Fixed manufacturing overhead 600,000 Selling and administrative: Variable 180,000 Fixed 630,000 Required: a. Assuming the use of variable costing, compute the cost of Dates Berhad's ending finished- goods inventory at the end of 2020. (4 marks) b. Compute the company's contribution margin for the year 2020. (4 marks) C. Assuming the use of absorption costing, how much fixed selling and administrative cost would Dates Berhad include in the ending finished-goods inventory at the end of 2020? (2 marks) d. Compute the company's gross margin for the year 2020. (5 marks) e. An absorption-costing income statement will report gross margin whereas a variable- costing income statement will report contribution margin Describe the differences between gross margin and contribution margin. (5 marks) TOTAL: 20 MARKS