Question $6(20$ marks; $36$ minutes$)$

Veracruz Company had the following operating data for its first two years of operations

Variable costs per unit:

$\backslash$table$[[$Direct materials,R$80],[$Direct labour,R$40],[$Variable overhead,R$15],[$Fixed cost per year:,$],[$Overhead$,$R$900000],[$Selling and Admin,R$234500]]$

Veracruz produced $30000$ units in the first year and sold $25000.$ In the second year, it produced $25000$ units and sold $30000$ units. The selling price per unit each year was R$210.$ Veracruz uses an actual costing system for product costing.

Required:

$6\mathrm{.}1$ Prepare the income statements for the second year using the absorption and variable costing systems.

$(18)$