REQUIRED Use the first-in-first-out (FIFO) method to complete the table provided below for the stated transactions. (4 marks)

INFORMATION The following transactions of Max Enterprises took place during August 2022 in respect of a component used in production:

Date Transactions

01 Opening inventory 180 units @

R10 per unit 07

Purchased from a supplier 900 units @ R11 per unit

15 Issued to production 630 units

24 Purchased from a supplier 540 units @ R12 per unit

27 Returned to the supplier (see 24th) 100 units

30 Issued to production 600 units

Table to complete:

Purchases Issues and returns Balance Date Quantity Price Amount Quantity Price Amount Quantity Price Amount

1.2 REQUIRED Use the information provided below to calculate the amount earned by Joan on 19 July 2022. (4 marks)

INFORMATION Joan's normal wage is R360 per hour and her normal working day is 8 hours. The standard production time for each employee is 10 minutes per unit. On 19 July 2022, Joan's production was 60 units. Using the Halsey bonus system, a bonus of 50% of the time saved is given to Joan.