he following information was extracted from the accounting records of Hilton Manufacturers for the year ended September 2024: UNITS Inventory at the beginning of the year Nil Production for the year 28 500 Sales for the year 24 000 Selling price per unit R82 R Direct Materials cost per unit 22 Direct Labour cost per unit 11 Variable Manufacturing overheads per unit 7 Variable selling and administrative cost per unit 5 Fixed manufacturing overhead cost 274 000 Fixed selling and administrative cost 95 000 The company utilises the first-in-first-out method of inventory valuation. (Round of to two decimal places) 2.1 Prepare the Income Statementusing the Marginal Costing method. 2.2 Prepare the Income Statementusing the Absorption Costing method Please answer do not image.
he following information was extracted from the accounting records of Hilton Manufacturers for the year ended September 2024: UNITS Inventory at the beginning of the year Nil Production for the year 28 500 Sales for the year 24 000 Selling price per unit R82 R Direct Materials cost per unit 22 Direct Labour cost per unit 11 Variable Manufacturing overheads per unit 7 Variable selling and administrative cost per unit 5 Fixed manufacturing overhead cost 274 000 Fixed selling and administrative cost 95 000 The company utilises the first-in-first-out method of inventory valuation. (Round of to two decimal places) 2.1 Prepare the Income Statementusing the Marginal Costing method. 2.2 Prepare the Income Statementusing the Absorption Costing method Please answer do not image.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following information was extracted from the accounting records of Hilton Manufacturers for the year ended September
2024:
| UNITS | |
| Inventory at the beginning of the year | Nil |
| Production for the year | 28 500 |
| Sales for the year | 24 000 |
| Selling price per unit | R82 |
| R | |
| Direct Materials cost per unit | 22 |
| Direct Labour cost per unit | 11 |
| Variable Manufacturing |
7 |
| Variable selling and administrative cost per unit | 5 |
| Fixed |
274 000 |
| Fixed selling and administrative cost | 95 000 |
| The company utilises the first-in-first-out method of |
(Round of to two decimal places)
2.1 Prepare the Income Statementusing the Marginal Costing method.
2.2 Prepare the Income Statementusing the Absorption Costing method
Please answer do not image.
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