Records from Dan Vce Ltd for the year ended December 31, 2020 revealed these extract: GH...

 

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Records from Dan Vce Ltd for the year ended December 31, 2020 revealed these extract: GH¢ Sales 2,600,000 Direct materials 800,000 Direct labour 600,000 Factory overhead (65% fixed) 300,000 Selling costs (25% variable) 300,000 Distribution costs (25% variable) 200,000 Administrative costs (80% fixed) 100,000 Units produced and sold 40,000 You are required to prepare un income statement for the period, using i. Marginal costing approach ii. Absorption costing approach Records from Dan Vce Ltd for the year ended December 31, 2020 revealed these extract: GH¢ Sales 2,600,000 Direct materials 800,000 Direct labour 600,000 Factory overhead (65% fixed) 300,000 Selling costs (25% variable) 300,000 Distribution costs (25% variable) 200,000 Administrative costs (80% fixed) 100,000 Units produced and sold 40,000 You are required to prepare un income statement for the period, using i. Marginal costing approach ii. Absorption costing approach

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Dan vee Ltd Absorption costing Sales 2600000 Less COGS ... View the full answer