formats

Question 1

Absorption profit format

Answer 1

Sales
cost of production
opening inventory
direct material
direct labour
variable prod OH
fixed prof OH
closing inventory
add underabsorbed
- overabsorbed
G.P
non prod cost
variable selling OH
fixed admin and selling OH
profit for year

Question 2

Marginal profit format

Answer 2

Sales
variable costs
opening inventory
DM
DL
vairable production OH
variable selling OH
closing inventoru
contribution
fixed costs
fixed admin and selling oH
Fixed prod OH
profit for the year