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25 MARKS QUESTION 1 MARGINAL COSTING The following information relates to Mashamba Industries Ltd. Selling price per unit Variable cost per unit Fixed production costs

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25 MARKS QUESTION 1 MARGINAL COSTING The following information relates to Mashamba Industries Ltd. Selling price per unit Variable cost per unit Fixed production costs Fixed distribution cost Variable selling cost (per unit) Opening inventory R 15.00 9.50 24 000.00 10 000.00 0.50 1 000 units Year 1 Year 2 Year 3 Units Produced 10 000 10 000 10 000 Sold 10 000 8 000 11 000 Required: a) Prepare income statement under 1 Variable costing, and Absorption costing b) Reconcile the costing of the two costing systems. 10 marks 10 marks 5 marks 2 O

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