Question 3 (25 marks; 45 minutes) The variable costing income statement for Jackson Company for 2011 is as follows: R100 000 Sales 500 2o (R40 000) Variable expenses R30 000 R10 000 Cost of goods sold Selling expenses Carrable a Contribution margin Fixed expenses R60 000 R38 400 R24 000 R14 400 Manufacturing overhead Administrative Fxed Operating income R21 600 Selected data for 2011 concerning the operations of the company are as follows: 0 units 8 000 units Beginning inventory Units produced Sooo Sol Manufacturing costs: R3.00 per unit R1.60 per unit R1.40 per unit Direct labour Direct materials Variable overhead SP 6.00 Required: 3.1 Prepare an absorption costing income statement. 6000 3.2 Reconcile the profits n