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 manufacturing overheads cost per unit R12 Variable selling and administrative cost per unit sold R3 Fixed manufacturing overhead cost R200 000 Fixed selling and administrative costs R400 000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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 manufacturing overheads cost per unit R12

Variable selling and administrative cost per unit sold R3

Fixed manufacturing overhead cost R200 000

Fixed selling and administrative costs R400 000

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