Answer ALL the questions. $(100$ MARKS$)$

QUESTION $1(20$ Marks$)$

$1\mathrm{.}1$

REQUIRED

Calculate the remuneration of Molly for $08$ February $2024$ using Taylor$$s differential piecework system.

$(4$ marks$)$

INFORMATION

The following information relates to the remuneration of Molly for $08$ February $2024$:

Standard time allowed $20$ minutes per unit

Standard workday $8$ hours

Normal wage rate R$120$ per hour

Premium $90\%$ of piecework rate if below standard

$110\%$ of piecework rate if standard or above standard

Molly$$s production for the day $27$ units

$1\mathrm{.}2$

REQUIRED

Use the information provided below to calculate the economic order quantity.

$(4$ marks$)$

INFORMATION

The average monthly usage of an item that costs R$2$ each and sells for R$4\mathrm{.}50$ each is $600$ units. The

holding cost is $10\%$ of the cost of the item. The cost to place an order is R$20.$

$1\mathrm{.}3$

REQUIRED

Calculate the earnings of Amanda for the day using the straight piecework incentive scheme.

$(4$ marks$)$

INFORMATION

The standard time to produce a product is $10$ minutes. Amanda is paid R$120$ per hour and the normal

working day is $8$ hours. If Amanda produces more than her quota, she receives $1\mathrm{.}5$ times the hourly

rate on the additional output. Amanda produced $54$ units for the day.

$1\mathrm{.}4$

REQUIRED

Complete the following table that would reflect the value of issues to production and inventory balances

using the first$-$in$-$first out method of inventory valuation:

Purchases Issues$/$Returns Balance

Date Quantity Price Amount Quantity Price Amount Quantity Price Amount

$(4$ marks$)$

INFORMATION

The transactions of Kerman Manufacturers for January $2024$ are as follows:

January Transaction Units Price per unit

$01$ Opening inventory $4000$ R$3\mathrm{.}00$

$06$ Purchased from a supplier $1600$ R$3\mathrm{.}20$

$20$ Purchased from a supplier $3000$ R$3\mathrm{.}30$

$07$ Issued to production $3200?$

$27$ Issued to production $4000?$

$1\mathrm{.}5$

REQUIRED

Use the information provided below to determine the expected productive working hours of Anna for

$2023.$ Commence your calculations with the number of days in the year.

$(4$ marks$)$

INFORMATION

Anna worked for $9$ hours per day from Monday to Friday during $2023.$ She is entitled to $28$ days paid

vacation leave. There were $13$ public holidays, $12$ of which fell on weekdays. The business i