REQUIRED 4.1 Prepare the Cost Statement for the year ended 28 February 2023 that shows the cost of goods manufactured and cost of sales. (16m 4.2 Prepare the Income Statement for the year ended 28 February 2023. (4 INFORMATION The following information applies to Kompustat Ltd for Product K (which it manufactures) for the year en February 2023 : The following information is also available: - The actual manufacturing overheads amounted to R540 000 . - The first-in-first-out (FIFO) method of costing inventories is used. - Manufacturing overheads under- or over-applied must be charged to cost of sales. QUESTION 5 (20 Marks) REQUIRED Use the information provided below to calculate the following variances. In each case state whether the variance is favourable or unfavourable. 5.1 Materials issue price variance (3 marks) 5.2 Materials Guantitv variance (3 marks) REQUIRED 4.1 Prepare the Cost Statement for the year ended 28 February 2023 that shows the cost of goods manufactured and cost of sales. (16m 4.2 Prepare the Income Statement for the year ended 28 February 2023. (4 INFORMATION The following information applies to Kompustat Ltd for Product K (which it manufactures) for the year en February 2023 : The following information is also available: - The actual manufacturing overheads amounted to R540 000 . - The first-in-first-out (FIFO) method of costing inventories is used. - Manufacturing overheads under- or over-applied must be charged to cost of sales. QUESTION 5 (20 Marks) REQUIRED Use the information provided below to calculate the following variances. In each case state whether the variance is favourable or unfavourable. 5.1 Materials issue price variance (3 marks) 5.2 Materials Guantitv variance