Joseph is a manufacturer of a single product and started trading in 2019. He calculated his profit at the end of 2019 using the absorption

1. Assist with an income statement at year end 31 December for Joseph's Manufacturing using the Marginal cost method.
2. Assist with an income statement at year end 31 December for Joseph's Manufacturing using the Absorption cost method.

He foretasted his sales and costing for July to December 2021 and wanted to cost- volume- profit (CVP Analysis) since it made user of the marginal costing approach which he was impressed with

Information:

Following information was extracted from the account records for the period 31 Dec 2020 and Dec 31 Dec 2021.

31 December 2020 31 December 2019 Units R Units R Sales for the year 3 500 ? 3 700 656 000 Selling price per unit Production for the year Finished goods at beginning of year Variable manufacturing costs per unit Variable selling and administrative costs per unit Fixed manufacturing costs per year Fixed selling and administrative costs per year