Question 2 (10 marks) Information The financial manager of Seiko Manufacturers provided the following budgeted information for the month ended 31 August 2020: Estimated production Estimated sales Selling price per watch Variable manufacturing costs per watch Fixed manufacturing overheads Marketing and administrative costs: Fixed costs Variable costs per watch sold 5 000 units 4 500 units R900 R550 R300 000 R150 000 R100 Required Prepare the Income Statement for the month ended 31 August 2020 using the absorption costing method