REQUIRED Use the information given below to prepare the Income Statement for the month ended 28 February 2023 using the following methods: 2.1 Marginal costing 2.2 Absorption costing INFORMATION The following information relates to the only product produced by Los Vega Manufacturers during February 2023 Opening inventory Nil Number of unis Manufactured 10 000 Number of units sold 8 000 Selling Price per unit R500 Direct material cost per unit R80 Direct labour cost per unit R140 Variable manufacturing overheads per unit R70 Variable marketing and administrative cost per unit sold R30 Fixed manufacturing overhead cost R400 000 Fixed marketing and administrative cost R200 000
REQUIRED Use the information given below to prepare the Income Statement for the month ended 28 February 2023 using the following methods: 2.1 Marginal costing 2.2 Absorption costing INFORMATION The following information relates to the only product produced by Los Vega Manufacturers during February 2023 Opening inventory Nil Number of unis Manufactured 10 000 Number of units sold 8 000 Selling Price per unit R500 Direct material cost per unit R80 Direct labour cost per unit R140 Variable manufacturing overheads per unit R70 Variable marketing and administrative cost per unit sold R30 Fixed manufacturing overhead cost R400 000 Fixed marketing and administrative cost R200 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me with required 2.1 and required 2.2 thanku
Transcribed Image Text:REQUIRED Use the information given below to prepare the Income Statement for the month ended 28 February 2023
using the following methods: 2.1 Marginal costing 2.2 Absorption costing INFORMATION The following information
relates to the only product produced by Los Vega Manufacturers during February 2023 Opening inventory Nil Number of
unis Manufactured 10 000 Number of units sold 8 000 Selling Price per unit R500 Direct material cost per unit R80 Direct
labour cost per unit R140 Variable manufacturing overheads per unit R70 Variable marketing and administrative cost per
unit sold R30 Fixed manufacturing overhead cost R400 000 Fixed marketing and administrative cost R200 000
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