Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 (20 MARKS) REQUIRED Use the information provided below to prepare the Income Statement of Revlon Enterprises for the year ended 31 December 2022 using

2 (20 MARKS) REQUIRED Use the information provided below to prepare the Income Statement of Revlon Enterprises for the year ended 31 December 2022 using the following methods: 2.1 Marginal costing (11 marks) 2.2 Absorption costing (9 marks) INFORMATION The following information relates to the only product produced by Revlon Enterprises during 2022: 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical Guide To Commercial And Industrial Energy Auditing

Authors: Mtijan M Kamara

1st Edition

1717257321, 978-1717257321

More Books

Students also viewed these Accounting questions

Question

Record equity in a close corporation

Answered: 1 week ago

Question

Are my points each supported by at least two subpoints?

Answered: 1 week ago