QUESTION 2 (20 MARKS) REQUIRED 2.1 Use the information provided below to prepare the Income Statement of Pescatore Manufacturers for the month ended 31 May 2019 using the: 2.1.1 Variable costing method. (9 marks) 2.1.2 Absorption costing method. (8 marks) 2.2 Reconcile the profit calculated according to variable costing (in question 2.1.1) with the profit calculated according to absorption costing (in question 2.1.2). (3 marks) INFORMATION The following information relates to the only product produced by Pescatore Manufacturers for the month ended 31 May 2019: Sales price per unit R360 Direct materials cost per unit R60 Direct labour cost per unit R120 Variable manufacturing overhead costs per unit R66 Fixed manufacturing overhead costs R360 000 Variable selling and administrative costs 5% of sales Fixed selling and administrative costs R135 000 Opening inventory Nil Number of units manufactured 36 000 Number of units sold 30 000