n Moale (Pty) Ltd manufactures proudly South African hand-crafted wood statuettes of Madiba and then sells them

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Moale (Pty) Ltd manufactures proudly South African hand-crafted wood statuettes of Madiba and then sells them to curio shops. Miss Moale, the founding member, has always had a passion for the arts and crafts and combining that passion with her idol has turned into a successful business. The selling price per statue in 2019 was R500 and is expected to increase by 10% per year from 2020. There was no opening inventory at the beginning of 2019. The following additional information is available: Year 2019 2020 Manufactured 1 400 1 500 Sold 1 000 1 600 Cost information for the years ending 30 September Variable cost per unit: Direct materials Direct labour a. the direct cost method b. the absorption method TOTAL 2019 R 10 marks 10 marks 20 marks 120,00 36,00 24,00 2,40 Variable production overheads Variable selling costs Total fixed costs: Fixed production overheads Fixed selling costs Fixed administrative overheads Moale uses the weighted average method of inventory valuation. REQUIRED Prepare a budgeted Statement of Comprehensive Income for the year ended 30 September 2019 in accordance with 2020 R 72 000 112 800 55 200 132,00 39,60 26,40 2,64 79 200 124 080 60 720 Moale (Pty) Ltd manufactures proudly South African hand-crafted wood statuettes of Madiba and then sells them to curio shops. Miss Moale, the founding member, has always had a passion for the arts and crafts and combining that passion with her idol has turned into a successful business. The selling price per statue in 2019 was R500 and is expected to increase by 10% per year from 2020. There was no opening inventory at the beginning of 2019. The following additional information is available: Year 2019 2020 Manufactured 1 400 1 500 Sold 1 000 1 600 Cost information for the years ending 30 September Variable cost per unit: Direct materials Direct labour a. the direct cost method b. the absorption method TOTAL 2019 R 10 marks 10 marks 20 marks 120,00 36,00 24,00 2,40 Variable production overheads Variable selling costs Total fixed costs: Fixed production overheads Fixed selling costs Fixed administrative overheads Moale uses the weighted average method of inventory valuation. REQUIRED Prepare a budgeted Statement of Comprehensive Income for the year ended 30 September 2019 in accordance with 2020 R 72 000 112 800 55 200 132,00 39,60 26,40 2,64 79 200 124 080 60 720

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