Libangani ltd is a company that manufactures school furniture and is based in Lobatse, in Botswana. The company has its financial year ended $31$ December $2022$ and they prepared their budget as shown below:

Details Amount $($$$)$

Direct materials $64,000$

Direct wages $36,000$

Variable Production overheads $12,000$

Fixed Production overheads $48,000$

Variable administrative and selling costs $6,000$

Fixed administrative and selling costs $14,000$

Profit $20,000$

Additional information:

The company after ten weeks of trading realized that its sales budget was too optimistic and it has now been estimated that because of a reduction in sales volume, for the full year, sales will total $$160000$ which is only $80\%$ of the previously budgeted figure.

Required:

Using the marginal costing format, prepare a statement showing the amended sales and cost structure.