The following data have been extracted from the books of a company:
|
Production & Sales Volume |
50,000 units |
|
Selling Price per unit |
Rs. 20 |
|
Materials per unit |
Rs. 8 |
|
Labour per unit |
Rs. 4 |
|
Production Overheads: |
|
|
Variable |
Rs. 3 per unit |
|
Fixed |
Rs. 75,000 |
|
Other Fixed Overheads |
Rs. 95,000 |
Prepare an Income Statement under: (i) Absorption Costing technique; and (ii) Variable Costing technique.