QUESTION 3 (20 Marks) The following information relates to the only product made by Ace Limited for the year ended 31 May 2020: Opening inventory 0 Number of units manufactured 9 000 7 200 R90 R180 Number of units sold (at R540 per unit) Direct materials cost per unit Direct labour cost per unit Variable manufacturing overheads cost per unit Variable selling expenses per unit Fixed manufacturing overheads cost Fixed selling and administrative expenses R90 R20 R450 000 R180 000 Required: Draft the income statement for the year ended 31 May 2020 using the: (10 marks) 3.1 Marginal Costing method 3.2 Absorption costing method (10 marks)