REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION...

Transcribed Image Text:

REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION (4 marks) Mary is employed by Menton Manufacturers to sew dresses. The standard time to sew one dress is 40 minutes. She is paid R120 per hour and the normal working time is 8 hours per day. If she sews more than her quota, she receives 1.5 times the hourly rate on the additional output. On 31 October 2023 she sewed 18 dresses. 1.2 REQUIRED Calculate the net salary of H. Gordon for December. (4 marks) INFORMATION H. Gordon's basic annual salary is R240 000. He receives an annual bonus of 80% of his basic monthly salary, payable in December each year. His pension deduction is 8% of the basic salary and income tax is levied at 20% on his taxable income. 1.3 REQUIRED Calculate the economic order quantity for the year. (4 marks) INFORMATION Suntan Limited produces a product which has a steady monthly demand of 4 000 units. The product requires a component that is purchased from a supplier at R20 per unit. The ordering cost is R1.20 per order. The holding cost is 10% of the unit purchase price. REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION (4 marks) Mary is employed by Menton Manufacturers to sew dresses. The standard time to sew one dress is 40 minutes. She is paid R120 per hour and the normal working time is 8 hours per day. If she sews more than her quota, she receives 1.5 times the hourly rate on the additional output. On 31 October 2023 she sewed 18 dresses. 1.2 REQUIRED Calculate the net salary of H. Gordon for December. (4 marks) INFORMATION H. Gordon's basic annual salary is R240 000. He receives an annual bonus of 80% of his basic monthly salary, payable in December each year. His pension deduction is 8% of the basic salary and income tax is levied at 20% on his taxable income. 1.3 REQUIRED Calculate the economic order quantity for the year. (4 marks) INFORMATION Suntan Limited produces a product which has a steady monthly demand of 4 000 units. The product requires a component that is purchased from a supplier at R20 per unit. The ordering cost is R1.20 per order. The holding cost is 10% of the unit purchase price.