The following data have been obtained from the books of a company:
|
Production Volume |
50,000 units |
|
Sales Volume |
48,000 units |
|
Selling Price per unit |
Rs. 50 |
|
Materials per unit |
Rs. 20 |
|
Labour per unit |
Rs. 10 |
|
Production Overheads: |
|
|
Variable |
Rs. 6 per unit |
|
Fixed |
Rs. 2,00,000 |
|
Administration & Selling Overheads: |
|
|
Variable |
Rs. 3 per unit |
|
Fixed |
Rs. 1,56,000 |
Prepare an Income Statement under: (i) Absorption Costing technique; and (ii) Marginal Costing technique.