Please answer the required and give detailed steps

RJD Ltd is a sandals making company. The CFO is contemplating changing from Marginal Costing to Absorption Costing. She has asked for you to complete both statements for a comparative analysis. The following budgeted data relates to RJD Ltd. for the period ending December 31, 2023. Production (units) 48,000 Sales (units) 46,000 Opening stock (units) 14,000 The company incurred material, labour and production and selling overheads per unit as follows: Direct material $2,000 Direct labour $3,200 Variable production overheads $1,500 Variable selling and distribution $1,200 The company had a fixed production overheads budget of $1,200,000 for the year and estimated that they would produce 50,000 pairs of sandals each year, Overheads are absorbed on a per pair basis. Actual overheads are $1,260,000 per year. Actual fixed administration cost is $750,000 per year. The selling price per pair is $10,000. Required: (a) Prepare the marginal costing and the absorption costing income statements clearly showing the difference in treatment of stock for the period ending December 31, 2023. (17 marks) (b) Reconcile the income under both statements. (2 marks) (c) Discuss three (3) ways in which variable costing differs from absorption costing. (6 marks)