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Prepare income statements under Absorption costing

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Reference no: EM132522816

Question - Cloud Ltd., produces 8,000 units of product Z during the year ended 31/12/2018. 6,000 of these units were sold at sh6 per unit. The production costs were as follows:

Direct Materials sh0.50 per unit

Direct Labour sh0.80 per unit

Variable Overhead sh0.50 per unit

Fixed Overhead Cost for the year sh3,000

Required - Prepare income statements under Marginal and Absorption costing principles.

Reference no: EM132522816

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