FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Prepare the Income Statement for the year ended 31 December 2022 using the Marginal costing and Absorption costing methods.
Opening inventory Nil
Number of units manufactured 5 000
Number of units sold 4 500
Selling price per unit R200
Direct material cost per unit R14
Direct labour cost per unit R23
Variable
Variable selling and administrative cost per unit sold R3
Fixed manufacturing
Fixed selling and administrative costs R400 000
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