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QUESTION TWO (20 Marks) The following information was extracted from the accounting records of...

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Accounting

QUESTION TWO (20 Marks)
The following information was extracted from the accounting records of Hilton Manufacturers for the year ended September
2024:
Inventory at the beginning of the year Production for the year
Sales for the year
Selling price per unit
Direct Materials cost per unit
Direct Labour cost per unit
Variable Manufacturing overheads per unit Variable selling and administrative cost per unit Fixed manufacturing overhead cost
Fixed selling and administrative cost
The company utilises the first-in-first-out method of inventory valuation.
REQUIRED:
(Round of to two decimal places)
2.1 Prepare the Income Statement using the Marginal Costing method.
UNITS
Nil 2850024000 R82 R
221175
27400095000
(11)
2.2 Prepare the Income Statement using the Absorption Costing method

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