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QUESTION 2 (10 Marks) REQUIRED Prepare the Income Statement of Waltons Manufacturers for the month...

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Accounting

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QUESTION 2 (10 Marks) REQUIRED Prepare the Income Statement of Waltons Manufacturers for the month ended 28 February 2021 using the absorption costing method. INFORMATION The following forecasts were obtained from the accounting records of Waltons Manufacturers for the month ended 28 February 2021: Inventory on 01 February 2021 25 000 units Nil Production Sales 23 000 units R100 R240 000 per month R42 Selling price per unit Manufacturing costs: Fixed manufacturing costs Variable manufacturing costs per unit Marketing costs: Sales personnel's salaries and advertising Delivery costs Administration costs: R40 000 per month R5 per unit sold Salaries R50 000 per month Other office costs R4 per unit sold

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