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Prepare the income statement for the month ended 31 August 2020 using the absorption costing method. Given Estimated production 5000 units Estimated sales 4500 units

Prepare the income statement for the month ended 31 August 2020 using the absorption costing method.

Given Estimated production 5000 units

Estimated sales 4500 units

Variable manufacturing R550

Fixed manufacturing over heads R 300 000

Fixed costs R150 000

Variable Cost per watch Sold R100

Selling price per watch R900

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