Seth pic manufactures a product with a selling price of £5.00 per unit. The variable costs are…

Seth pic manufactures a product with a selling price of £5.00 per unit. The variable costs are £2.00 for direct materials, £1.00 for direct labour and £1.00 for variable overheads. The fixed costs are £100,000 per annum. Prepare a marginal costing statement for a financial period when 120,000 units were produced.