Kindly use template below:

Question 2

2.1

MARGINAL COSTING METHOD

REVLON ENTERPRISESINCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 WorkingsR Sales Less: Variable cost Marginal income Less: Fixed costs Net profit

2.2

ABSORPTION COSTING METHOD

REVLON ENTERPRISESINCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022 Workings (if any)R Sales Less: Manufacturing cost of sales Gross profit Less: Other costs Net profit

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