Please provide a detailed and accurate answer, please.

2. You are required to The Ring Play Company is a manufacturer of equipment for children's playgrounds established on 1st January 2017 The following information was extracted from their books at the end of the first financial year. a. (i) differentiate between Variable Costs and Fixed Costs [2] Sales Purchases of raw materials Wages: Power Tools Operators Office Salaries Factory Supervisors Factory General Expenses Office Expenses Factory Fuel and Power $ 160 000 49 000 17 200 25 850 25 000 4 500 8 200 (ii) give one specific example of each type of cost that may occur for the Ring Play Company. [2] 3 800 At 31st December 2017 this additional information was provided. b. Prepare the manufacturing Account of the Ring Play Company for the year ended 31st December 2017 (11) c. Prepare the Trading Account of the Ring Play Company for the year ended 31st December 2017 (5] Fuel and power owing amounted to Direct factory wages accrued amounted to Stocks were valued: Raw Material Work In Progress Finished Goods $ 90 700 2 540 1 800 3 900 Factory power tools were valued at $25 200. Tools were purchased for $28 000 on 1st January 2017. There were no other purchases or sales of machinery during the year