CP $($Pty$)$ Ltd is engaged in the manufacturing of a low$-$cost irrigation units for the local market in Gauteng. Pre$-$determined rates are used by the company to charge Fixed Manufacturing overheads. Fixed manucturing overhead $($MFOH$)$ are charged at the rate of $133\%$ per direct labour hour rate. Actual costs incurred$2020$ are shown below: Direct materials R$5,550,000,$ Direct labour $($at R $150$ per hour$)$R$2,400,000,$ Actual variable overhead $($MVOH$)$ R$900,000,$ Actual fixed overhead $($MFOH$)$ R$4,290,000,$ Variable marketing costs R$600,000,$ Fixed marketing costs R$450,000.$In $2020,150000$ units were produced and $41981$ units were sold at a selling price of R $200$ each. Assume that the company charges over$-$ and under$-$applied MFOHs as a separate item in the income statement. Assume further that there were no opening and closing inventory of work$-$in$-$progress and no opening inventory of finished goods. Calculate the cost of sales and prepare an income statement based on full absorbtion costing