QUESTION 4 (20 Marks) 4.1 Study the information provided below and answer the following question. INFORMATION Main Stay Enterprises operates a job costing system and has the aim of making a net profit of 25% on sales. The cost estimates for one particular job are as follows: - Direct Material 100kg at R50 per kilogramme - Direct Labour 60 hours at R60 per hour - The total overheads are budgeted at R 1200000 and are absorbed on the basis of direct labour hours. - The budgeted labour hours are 60000 . Required: Determine the sales price to be quoted for this job (round off answer to two decimal places). (5 Marks) 4.2 Use the information provided below to answer the following question. INFORMATION Smart Leather Works (SLW) is a small-sized manufacturing enterprise which operates a job costing system. A cost accountant has estimated that Job number 115 requires direct materials amounting to R8 000 and R12 000 for direct labour. Direct labour is paid at R300 per hour. Production overheads are absorbed at a rate of R410 per direct labour and non-production overheads are absorbed at a rate of 110% of prime costs. Required: Determine the cost of Job 115 (round off answer to two decimal places). (5 Marks) 4.3. Study the information provided below and answer the following questions. INFORMATION Superior Chocolatier (MC) is a producer of a range of chocolate products. MC uses a two-process technology in the production of the chocolate products, namely Process 1 and Process 2 . The data for the month just ended are: The normal loss as a result of consumption by employees amounts to 5% of the chocolate during Process 1 . There was no work in progress at end of the month. During the month, employees ate less chocolate as a result of increased surveillance. As a result, at the end of Process 1,38100kg were transferred to Process 2