Jason plc produces a single product with the following budgeted information for astandard month’s operation:Selling price $13.00Direct materials $3.00 per unitDirect wages $2.00 per unitVariable overheads $2.00 per unitFixed overheads $12,000 per month based on a monthly production volume of4,000 units. Note actual fixed overheads are also $12,000.Required:(i) Using absorption costing show the month’s operating statement, assuming actual production and sales are 3,800 units.(ii) Using marginal costing show the month’s operating statement, again assumingactual production and sales are 3,800 units.With the same information but now assuming that sales are only 3,600 units(production still 3,800) show:(iii) Operating profit for the month under absorption costing.(iv) Operating for the month under marginal costing.(v) Produce a statement that reconciles the two operating profit figures.(vi) Explain clearly what general principle relating to absorption and marginal costing is illustrated from the example above.