Prenare an income statoment in columnar form for Adelaide Limited for February using:

Marginal costing

Hendry Ltd opened his new business on $1$ January $2022.$ On that date, the only asset was a bank

balance of $11,000.$ During the year, Hendry's drawings from the business totalled $36,000.$ On

$31$ December $2022,$ the assets and liabilities of the business were as follows:

Computers and furniture $61,000$; inventory of raw materials $17,500$; finished goods, at cost

$8,400$; bank overdraft $12,600$; trade payables $6,500$; prepayments $2,500$; trade receivables

$5,500$; the provision for bad debts $3,000$; bank loan $40,000$; interest payable $1,500$; accrued

expenses $3,600.$

What is the profit of the business in the year ended $31$ December $2022?(15$ marks$)$

Spacey plc is in the manufacturing industry and it manufactures and sells a product known as

GMT$.$ The manager of the department that produces the products created a monthly budget

for the product at the beginning of the year, based on $9,000$ units of the product being

produced and sold. $(15$ marks$)$

However, in April, only $8,500$ units were actually produced and sold and his actual monthly

budget values were as follows: