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5-34 Absorption Statement Peterson Jewelry had the following data (in thousands of South African Rands, ZAR) for a given period. Assume there are no inventories.

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5-34 Absorption Statement Peterson Jewelry had the following data (in thousands of South African Rands, ZAR) for a given period. Assume there are no inventories. Fill in the blanks. Sales ZAR Direct materials 355 Direct labor Indirect manufacturing Manufacturing cost of goods sold 745 Gross margin 135 Selling and administrative expenses Operating income 30 Prime cost (direct materials + direct 575 labor)

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