Test your understanding 2 Duo Ltd makes and sells one product, the Alpha. The following information is available for period 3: Production (units) 2,500 Sales (units) 2,300 Opening inventory (units) 0 Financial data: Alpha $ Unit selling price 90 Unit cost: direct materials 15 direct labour 18 variable production overheads 12 fixed production overheads 30 variable selling overheads 1 Fixed production overheads for the period were $52,500 and fixed administration overheads were $13,500. Required: (a) Prepare a statement of profit or loss for period 3 based on marginal costing principles. (b) Prepare a statement of profit or loss for period 3 based on absorption costing principles