QUESTION THREE

3.1 Use the following format: RandsSales Less: Variable costs Opening inventory Variable manufacturing costs Goods available for sale Closing inventory Variable cost of goods sold Variable selling expenses Marginal income: Less: Fixed cost Manufacturing costs Selling and admin costs Net profit

3.2 Use the following format: Rands Sales Marginal cost of sales Opening inventory Fixed manufacturing cost Variable manufacturing cost Goods available for sale Closing inventory Gross profit Other costs: Fixed selling and admin costs Variable selling cost Net profit