prepare the static budgeted statement of profit or loss for the first quarter of the next year

PQR Company plans to produce and sell 1 000 units at a selling price of R1 500 per unit in the first quarter (January to March) of next year. Assume there are no opening and closing inventories. The estimated production cost of one unit is as follows: Direct materials cost Direct labour cost Variable overheads Budgeted variable cost per unit 3 components at R8 each 2 hours at R100 per hour R180 per unit manufactured R 24 200 180 404 Fixed overheads are estimated at R556 000 for the quarter. Salespersons receive 5% commission on all sales. Other period costs are estimated at R65 000