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Question 2 (18 marks) On February 1, 2017, there were 10,000...

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Question 2 (18 marks) On February 1, 2017, there were 10,000 bottles of cane juice in inventory at Naturally Sweet The budgeted fixed overhead for the period was $ 150,000 and the budgeted production units were 75,000. Below are data relevant to the year ended January 31, 2018 to manufacture and sell cane juice: Selling price per unit $100 Labour cost per unit $20 Direct material per unit S15 Direct expense per unit S5 Variable overheads per unit $15 Fixed overheads (actual) $190,000 Variable selling per unit SS Actual production 80,000 Actual sales 85,000 Required: a. Prepare an income statement using marginal costing. 15 marks b. Prepare an income statement using absorption costing c. Reconciling profits between marginal costing and absorption costing. [11 marks] 12 marks

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