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. ( 16 marks) 4.2 Prepare the Income Statement for the year ended 28 February 2023. (4 marks) INFORMATION The following information applies to Kompustat Ltd for Product K (which it manufactures) for the year ended 28 February 2023: Materials (direct and indirect): Opening inventory Purchases during the year Direct materials issued to production Indirect materials issued to production Closing inventory Direct labour: Hours worked during the year Rate per hour Administrative and marketing costs R120000 R583 200 R638 400 R24 000 ? Manufacturing overheads: Applied on direct labour hours at a rate of R6 per hour 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