USHION 130 MARKS Read the following information and answer the questions that follow. The manufactures hendusarves. The follossing information is available in her books on December 31, 2012 BWP 1,500 9,000 9.500 1.000 90 25 9 Opening inventory Headscarves made during the year Headscarves sold during the year Closing inventory Selling price Mamatachuring costs Variable costs: Direet material headscarf Direct labour hour cost used to make one scarf Variable manufacturing overhead Fixed manufacturing overheads per year Selling and administrative costs Commission paid for selling one warf Fixed selling and administration costs per year 3 150.000 10 100,000 Required: a) Prepare the income statement for the year ended December 31, 2012 using Page 7 of 9 Degree July. December i) .) Variable costing Absorption cost (15 marks) (15 marks) USHION 130 MARKS Read the following information and answer the questions that follow. The manufactures hendusarves. The follossing information is available in her books on December 31, 2012 BWP 1,500 9,000 9.500 1.000 90 25 9 Opening inventory Headscarves made during the year Headscarves sold during the year Closing inventory Selling price Mamatachuring costs Variable costs: Direet material headscarf Direct labour hour cost used to make one scarf Variable manufacturing overhead Fixed manufacturing overheads per year Selling and administrative costs Commission paid for selling one warf Fixed selling and administration costs per year 3 150.000 10 100,000 Required: a) Prepare the income statement for the year ended December 31, 2012 using Page 7 of 9 Degree July. December i) .) Variable costing Absorption cost (15 marks) (15 marks)