1.3.5 Inventor QUESTION 2 Direct labour cost per unit Variable manufacturing overheads cost per unit Variable selling expenses per unit The following information relates to the only product made by Standard Limited for the year ended 31 July 2020: Opening inventory Number of units manufactured Number of units sold (at R540 per unit) Direct materials cost per unit Fixed manufacturing overheads cost Fixed selling and administrative expenses Required: Draft the income statement for the year ended 31 July 2020 using the: 2.1 Variable Costing method 2.2 Absorption costing method (1 mark) 0 9 000 7 200 R90 R180 R90 R20 R200 000 R150 000 (20 Marks) (10 marks) (10 marks)