Please show workout and calculation tq

Quanong Technology LTD. Makes and sells one product, which has the following standard variables production costs per unit. Direct Material cost (2KG at S10 per kg) Direct Labour cost (4 hours at $ 15 per hour) Variables production overhead cost ($3 per labour hour) 20 60 12 The budgeted selling price per unit is $150, and the production and sales budget for the coming this year are as follows: Production in Units 120,000 Sales in Units 100,000 Theres is no opening inventory at the beginning of 2016. Budgeted fixed production overhead cost are $15 per unit, and they are absorbed based on a normal production level of 100,000 units per annum. The b udgeted non- production costs for the coming year are as followings Variables non-production overhead costs $8 per unit sold Fixed non-production overhead costs per annum $2,000,000 Required: a) Prepare two income statement for the year of 2016, one using absorption and the other using marginal costing systems b) Prepare a reconciliation statement reconciling the profits under marginal and absorption costing c) Briefly explain why a difference arises between profit figures when using marginal and absorption costing principles