Answer Happy

Use the information provided below to prepare the followingstatements for the year ended 28 February 2022:4.1 Cost statement (16 marks)4.2 Income Statement (4 marks)INFORMATIONThe following information was supplied by Jupiter Ltd for Product A(which it manufactures) for the year ended 28February 2022:
Materials: Opening inventory (100 000 kg) Purchases during the year (900 000 kg) Closing inventory: Quantity Direct labour: Hours worked during the year Rate per hour Manufacturing overheads Work in progress: Opening inventory Closing inventory Finished goods: Opening inventory Manufactured Sales Selling price per unit R500 000 R5.50 per kg 120 000 kg 400 000 hours R25 Applied on direct labour hours at a rate of R15 per hour R500 000 R400 000 20 000 units 100 000 units 90 000 units R400