Sweets Galore $($Pty$)$ Ltd $($Sweets Galore$)$ is a local manufacturer of fruity sweets.

The company uses an absorption costing system and inventory is valued according to

the first$-$in$-$first$-$out $($FIFO$)$ method.

The information below relates to Sweets Galore$$s $2024$ financial year ending $30$ June

$2024$:

Actual sales $980000$ sweets at R$0\mathrm{.}40$ per sweet

Actual number of fruity sweets

manufactured: $980000$ sweets

$-$ Direct materials used $980$ kilograms at R$20$ per kg

$-$ Direct labour used $980$ hours at R$50$ per hour

$-$ Variable manufacturing overheads

incurred $1960$ machine hours at R$30$ per hour

Budgeted fixed manufacturing overheads R$100000$

Normal capacity $1000000$ sweets

Actual fixed manufacturing overheads

incurred

R$105000$

Opening inventory: $100000$ sweets

$-$ Direct materials used $100$ kilograms at R$20$ per kg

$-$ Direct labour used $100$ hours at R$50$ per hour

$-$ Variable manufacturing overheads

incurred $200$ machine hours at R$30$ per hour

Total fixed manufacturing overheads

allocated to opening and closing inventory

R$10000$

Closing inventory $100000$ sweets

Fixed selling costs R$25000$

Variable selling costs $5$ cents per sweet sold

Fixed manufacturing overheads are allocated based on the number of sweets

manufactured at the normal capacity.

Prepare Sweets Galore$$s actual Statement of Comprehensive Income for the

financial year ending $30$ June $2024$ based on the absorption costing basis.