REQUIRED 4.1 Prepare the Cost Statement for the year ended 28 February 2023 that shows the cost of goods manufactured and cost of sales. (16 marks) 4.2 Prepare the Income Statement for the year ended 28 February 2023. (4 marks) INFORMATION The following information applies to Kompustat Ltd for Product K (which it manufactures) for the year ended 28 February 2023: Materials (direct and indirect): Opening inventory R120 000 Purchases during the year R583 200 Direct materials issued to production R638 400 Indirect materials issued to production R24 000 Closing inventory ? Direct labour: Hours worked during the year 80 000 Rate per hour R12 Administrative and marketing costs R36 per unit sold Manufacturing overheads: Applied on direct labour hours at a rate of R6 per hour Work in progress: Opening inventory R120 000 Closing inventory R96 000 Finished goods: Opening inventory 9 000 units at R108 per unit Manufactured 20 000 units Sales 25 000 units Selling price per unit R156 The following information is also available: The actual manufacturing overheads amounted to R540 000. The first-in-first-out (FIFO) method of costing inventories is used. Manufacturing overheads under- or over-applied must be charged to cost of sales