1,2 In the 2022 financial year the management of Cuisine (Pty) Ltd decided to look at a variable costing approach to get a different perspective and asked you the financial manager to prepare an Income Statement based on the variable costing approach for the year. Assume the opening inventory was valued at R15 per unit and there were based on 2021 stock and this is the correct figure. In the current year, Production was 27 000 and sales were 24000. The per unit costs are as follows: Variable Direct Material (R2,5), and Variable Direct Labour (R3). The Fixed Overhead production is R5 per unit and the Variable Overhead cost per unit is R5. The Selling and Marketing costs from the previous year remain the same for both the Fixed and Variable costs. REQUIRED: Prepare the income statement for the year 2022 using a variable costing Variable Direct Material Variable Direct Labour Variable Overhead Total Variable Cost Closing Inventory Variable Costing Income Statement Revenue Variable Costs Opening Inventory Production Closing Inventory Variable Selling and Administration Cost Contribution Fixed Costs Production Selling and Administration Costs Net Profit 1,2 In the 2022 financial year the management of Cuisine (Pty) Ltd decided to look at a variable costing approach to get a different perspective and asked you the financial manager to prepare an Income Statement based on the variable costing approach for the year. Assume the opening inventory was valued at R15 per unit and there were based on 2021 stock and this is the correct figure. In the current year, Production was 27 000 and sales were 24000. The per unit costs are as follows: Variable Direct Material (R2,5), and Variable Direct Labour (R3). The Fixed Overhead production is R5 per unit and the Variable Overhead cost per unit is R5. The Selling and Marketing costs from the previous year remain the same for both the Fixed and Variable costs. REQUIRED: Prepare the income statement for the year 2022 using a variable costing Variable Direct Material Variable Direct Labour Variable Overhead Total Variable Cost Closing Inventory Variable Costing Income Statement Revenue Variable Costs Opening Inventory Production Closing Inventory Variable Selling and Administration Cost Contribution Fixed Costs Production Selling and Administration Costs Net Profit