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$2\mathrm{.}2$

REQUIRED

Study the information given below and prepare the Income statement of Ceres Manufacturers for May $2025$ using the absorption costing method

$(10$ marks$)$

INFORMATION

The following information relates to the only product produced by Ceres Manufacturers during May $2025$:

$\backslash$table$[[$Opening inventory,Nil$],[$Number of units manufactured,$5000],[$Number of units sold,$4500],[,],[$Selling price per unit,R$200],[$Variable manufacturing costs per unit,R$80],[$Fixed manufacturing overhead costs,R$60000],[$Fixed selling costs and administrative costs,R$50000],[$Variable administrative costs per unit sold,R$3],[$Sales commission as a percentage of sales,$5\%]]$