Question 2 Use the information provided below to prepare the Income Statement of Winslow Limited for the month ended 31 March 2022 using each of the following methods: 2.1.1 Variable costing (9 marks) 2.1.2 Absorption costing (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 was extracted from the accounting records of Winslow Limited for the month ended 31 March 2022: Inventory on 01 March 2022 Nil Production 60 000 units Sales 48 000 units Selling price per unit R180 Direct materials cost R40 Direct labour cost R30 Variable manufacturing overheads R10 Fixed manufacturing overheads R600 000 per month Advertising and salaries R80 000 per month Sales personnels commission 5% of sales Administration costs including salaries R120 000 per month Other administration costs R12 per unit sold