Kabeer Manufacturing Co. uses direct costing. Following information have been received from their accounting records for a single product at the end of the year: Planned Production in units 30,000...

Kabeer Manufacturing Co. uses direct costing. Following information have been received from their accounting records for a single product at the end of the year: Planned Production in units 30,000 Actual Production in units 29,000 Actual sales in units 28,000 Fixed Costs (Rs.) Variable Costs (Rs.) Raw Materials 52 Direct Labor 40 FOH 28 Fixed FOH - Cost Rs. 160,000 Marketing and Administrative Costing Rs. 100,000 Rs. 9 per unit sold Note: Selling price of each single unit is Rs. 200. Required Prepare operating income statement by both, absorption and direct costing approach.