Reference no: EM132774999
Question - The following information was extracted from the accounting records of ABC Manufacturers for the year ended September 2020:
UNITS
Inventory at the beginning of the year Nil
Production for the year 20 000
Sales for the year (at R75 per unit) 18 250
R
Direct Materials cost per unit 21
Direct Labour cost per unit 7
Variable Manufacturing overheads per unit 8
Variable selling and administrative cost per unit 5
Fixed manufacturing overhead cost 182 000
Fixed selling and administrative cost 77 000
REQUIRED -
1. Make an Income Statement using the Marginal Costing method.
2. Make an Income Statement using the Absorption Costing method.
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