QUESTION 1 (25 marks) This question consists of two separate parts, both of which must be answered. PART 1.1 {15} Maphitha Limited produces a single type of a product. The company uses an actual costing system. The following information has been taken from the company's production and sales records for the month of April 2021: Sales units...... 4 000 units Finished goods: Balance as at 01 April 2021.. 1 000 units Balance as at 30 April 2021. 2 000 units Raw material: Balance as at 01 April 2021......... . ..... 500 kg @ R46,50 per kg Bought during the month.... ...... 1 500 kg @ R47,00 per kg Balance as at 30 April 2021.......... ...... 300 kg @? per kg Work-in-process: R Balance as at 01 April 2021.......... 4 800 Balance as at 30 April 2021.. 2 750 Conversion costs: R Direct labour costs....... 84 000 Manufacturing overhead incurred... ..... 59 300 Additional information: The finished goods are carried at the average unit production cost for the month. Raw material is valued according to the FIFO method of inventory valuation. REQUIRED: Calculate the following for April 2021: 5 PART 1.2 (10} Hluhluwe Limited uses the economic order quantity formula (EOQ) to establish its optimal reorder quantity for its single raw material. The following data relate to the inventory costs: Purchase price: R15 per item Ordering costs: R5 per order Storage costs: 10% of the purchase price plus RO,20 per unit per annum Annual demand: 3 825 units REQUIRED: 1.2.1 Calculate the EOQ (3)