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FON 7. A company produces a single product that is sold for Rs. 40. The followings are budgeted figures, Direct Material Cost Rs. 6 per unit Direct Labour Cost Rs. 5 per unit Variable FOH Rs. 3.50 per unit Fixed FOH Rs. 15,000 per month Variable selling expenses Rs. 2 per unit sold Fixed Selling expenses Rs. 4,000 per month Normal Capacity 5,000 units per month Actual results for the month of the March 2014 showed that 4,900 units were produced and 4,800 units were sold. There were 400 units of finished goods at the beginning of the month. a. You are required to prepare operating statement for the month of March using Absorption Costing and Marginal Costing. b. Prepare a statement of profit reconciliation