QUESTION 1 1.1 REQUIRED Use the information given below to calculate the following for the year 2022: 1.1.1 The number of units that should be produced (3 marks) 1.1.2 Total production cost (3 marks) 1.1.3 Value of closing inventory (2 marks) INFORMATION The following reflects the sales forecasts of Tango Manufacturers for the only product that it manufactures: Sales forecast Units For 2022 2 000 For 2023 2 500 The expected closing inventory at the end of each year is 30% of the sales volume of the following year. The following costs are expected to be incurred during 2022: Costs Cost per unit Variable manufacturing costs Rg Fixed manufacturing costs R4 Selling and administration costs R3 1.2 REQUIRED Use the information provided below to prepare the budgeted Statement of Comprehensive Income for the year ended 28 February 2022. (5 marks) INFORMATION The following budgeted information was provided by Matrix Traders for the year ended 28 February 2022: R Sales 1 000 000 Sales returns 50 000 Opening inventory 60 000 Closing inventory 80 000 Purchases 450 000 Operating expenses 180 000 Interest expense 8 000 Company tax is calculated at 30% of the pre-tax profits.1.3 REQUIRED Use the information provided below to prepare the Statement of Financial Position as at 31 December 2021 using the percentage-of-sales method. (7 marks) INFORMATION Jupiter Limited's Pro Forma Statement of Financial Position as at 31 December 2020 is as follows: Statement of Financial Position as at 31 December 2020 ASSETS R Non-current assets 2 000 000 Property, plant and equipment 2 000 000 Current assets 4 250 000 Inventories 2 000 000 Accounts receivable 750 000 Cash 1 500 000 6 250 000 EQUITY AND LIABILITIES Equity 5 450 000 Non-current liabilities 250 000 Loan 250 000 Current liabilities 650 000 Accounts payable 650 000 6 250 000 Additional information The sales for the year ended 31 December 2020 amounted to R20 000 000. Sales are expected to increase by R4 000 000 during 2021.QUESTION 1 (20 MARKS) 1.1 1.1.1 Workings (if any) Units (3 marks) 1.1.2 Workings (if any) (3 marks) 1.1.3 Value of closing inventory (2 marks)1.2 MATRIX TRADERS STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBRUARY 2022 Workings (if any) R Sales Profit after tax (5 marks)1.3 JUPITER LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021 Workings (if any) R ASSETS Non-current assets Property, plant and equipment Current assets Inventories Accounts receivable Cash EQUITY AND LIABILITIES Equity Non-current liabilities Loan Current liabilities Accounts payable (7 marks)