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Prepare the income statement for the month ended august

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Question - The financial manager of Seiko Manufacturers provided the following budgeted information for the month ended 31 August 2020:

Estimated production 5 000 units

Estimated sales 4 500 units

Selling price per watch R900

Variable manufacturing costs per watch R550

Fixed manufacturing overheads R300 000

Marketing and administrative costs:

Fixed costs R150 000

Variable costs per watch sold R100

Required - Prepare the Income Statement for the month ended 31 August 2020 using the absorption costing method.

Reference no: EM132520524

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