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QUESTION 1 INFORMATION The following information relates to the only product made by Glorious G...

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QUESTION 1 INFORMATION The following information relates to the only product made by Glorious G for the year ended 31 December 2019: Opening Inventory Number of units manufactured 9 000 Number of units sold at R540 per unit) 9 000 Direct Materials costs per unit R90 Direct Labour costs per unit R180 Variable manufacturing overheads cost per unit R90 Variable selling expenses per unit R20 Fixed Manufacturing overhead cost R450 000 Fixed selling and administrative expenses R180 000 REQUIRED: Draft the income statement for the year ended 31 December 2019 using the: 1.1 Variable Costing method 1.2 Absorption Costing method

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