The following are the information of a Manufacturing Company with Normal Capacity of 30,000 units: Years Closing stock units 1,000 Production units…

The following are the information of a Manufacturing Company with Normal Capacity of 30,000 units:
Years
Closing stock units 1,000
Production units 20,000
Sales units 21,000
Fixed factory overhead at Normal Capacity Rs 120,000
Fixed selling and administrative overhead Rs 42,000
Variable selling expenses Rs 2 per unit
Unit selling price Rs 20
Variable cost per unit Rs.
Raw material 4
Direct labour 3
Required: Income Statement under Variable Costing and reconciliation of profit