T Ltd produces a single product called $"J".$ Data for this product based on budgeted annual

production of $60,000$ units, is as follows:

The actual production, sales and inventory information for $T$ Ltd for the months of November and

December $2023$ are as follows:

There are also overhead costs detailed as follows:

Fixed production overhead costs are $120,000$ per annum.

Administration overheads are $15,000$ per month.

You are required to:

$($a$)$ Calculate the annual budgeted variable production overheads for $T$ Ltd$.$

$($b$)$ Prepare profit statements for each of the months of November and December on the basis of

absorption costing.

Cc$)$ Prepare profit statements for each of the months of November and December on the basis of

marginal costing.