Question: 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
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 Lid for Product K (which it manulactures) for the year ended 28 Eahnuan ms. - The actual manufacturing overheads amounted to R540000. - 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
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