The following information has been extracted from the books of Solarcross Ltd for the year to 31 March 2000: Units ‘000’ Production30 Sales24 Production cost incurred:Sh ‘000’ Direct material7,200 Direct labour1,800 Variable overheads1,500 Fixed overheads2,700 Selling and administrations costs: Sales and salaries450 Variable sales commission300 Promotion and advertising480 Other fixed costs720 The company’s unit selling price is Sh 550. Required: a)Profit and loss statement under direct costing approach. (8 marks) b)Profit and loss statement under indirect costing approach. (8 marks) c)An explanation of the difference in profit or loss in (a) and (b) above. (4 marks)