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Prepare the Income Statement of Rotary Limited for the year ended 28 February 2021 using the following methods of costing: 2.1 Marginal costing (10 marks)

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Prepare the Income Statement of Rotary Limited for the year ended 28 February 2021 using the following methods of costing: 2.1 Marginal costing (10 marks) 2.2 Absorption costing (10 marks) INFORMATION The following information was extracted from the accounting records of Rotary Limited for the year ended 28 February 2021 Inventory on 01 March 2020 Nil Production for the year 35 000 units Sales for the year 30 000 units Fixed costs: Manufacturing R700 000 Sales and administration R480 000 Variable costs per unit: Manufacturing R48 Sales and administration R12 Selling price per unit R150

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