Golden co. has provided following cost and revenue information. Sales11,000 unitsProduction:7,000 unitsDirect Material cost:Rs 8 per unitDirect labor cost:Rs 4 per unitFixed Administrative cost:Rs…

Golden co. has provided following cost and revenue information. Sales11,000 unitsProduction:7,000 unitsDirect Material cost:Rs 8 per unitDirect labor cost:Rs 4 per unitFixed Administrative cost:Rs 30,000Fixed Selling cost:Rs 10,000Fixed Manufacturing costRs 30,000Variable selling costRs 2 per unitOpening Stock:5,000 unitsSales Price per unit:Rs 40Normal output:10,000 units Required: Income statement under absorption costing for external reporting purpose.