Moona Inc. produces Mobile phones. Information of the company's operations last year appear below:   Fixed cost:   Fixed Manufacturing overhead Rs 40,000 Fixed Selling & Administrative  Rs 60,000     Selling Price per unit Rs 100     Variable cost per unit:   Direct Materials Rs 30 Direct labor Rs 10 Variable Manufacturing Overhead Rs 5 Variable Selling & Administrative Rs 2     Units In beginning Inventory 0 Units Produced 2000 Units sold 1900 Required: a. Compute the unit product cost under both absorption and variable costing. b. Prepare an income statement for the year using absorption costing. c. Prepare a contribution format income statement for the year using variable costing.            d. Prepare a report reconciling the difference in net operating income between absorption and variable costing for the year.

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