Use the information provided to answer the questions. Calculate the annual economic order quantity from the information provided below. (4 marks) INFORMATION GM Electronics expects to sell 800 alarm systems each month of 2022 at R4 000 each. The cost price of each alarm system is R2 000. The inventory holding cost of an alarm system is 1% of the unit cost price. The cost of placing an order for the alarm systems is estimated at R60. 1.1 Study the information provided below and calculate the hourly recovery tariff per hour (expressed in rands and cents) of Martha. (4 marks) INFORMATION The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthly salary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365 days), 8 of which fall on weekdays. 1.2 Use the information provided below to calculate Samantha’s remuneration for 17 March 2022. (4 marks) INFORMATION Samantha’s normal wage is R300 per hour and her normal working day is 8 hours. The standard production time for each employee is 4 units for every 30 minutes. On 17 March 2022, Samantha’s production was 76 units. Using the Halsey bonus system, a bonus of 50% of the time saved is given to employees. 1.3 Calculate the earnings of G. Henry using the straight piecework incentive scheme from the information provided below. (4 marks) INFORMATION G. Henry is employed by Royal Manufacturers and is paid R250 per hour. His normal working day is 9 hours. The standard time to produce a product is 5 minutes. If G. Henry produces more than his quota, he receives 1½ times the hourly rate on the additional output. G. Henry produced 132 units for the day. 1.4 From the information provided below complete the table using the FIFO method of inventory valuation: 1.5 (4 marks) Purchased Issues and returns Balance Date Quantity Price Amount Quantity Price Amount Quantity Price Amount The following transactions of Franco Manufacturers took place during March 2022: Date Transaction Units Price per unit 01 Opening inventory 1 600 R3.50 05 Purchased from a supplier 600 R4.00 12 Purchased from a supplier 1 300 R4.50 24 Purchased from a supplier 1 600 R5.00 16 Issued to production 1 800 ? 28 Issued to production 1 300 ? Question 2 Answer the questions from the information provided. Use the information given below to prepare the Income Statement for March 2022 according to the absorption costing method. 2.1 (12 marks) INFORMATION The following information was extracted from the accounting records of Alpha Enterprises for the month ended 31 March 2022: Sales 3 200 units Selling price per unit R100 Finished products on 01 March 2022 400 units Products manufactured during the month 3 600 units Variable manufacturing costs per unit R26 Variable selling and administrative costs per unit sold R12 Fixed manufacturing costs R25 200 Fixed selling and administrative costs R12 400 Additional information The variable manufacturing cost per unit and total manufacturing cost per unit of the finished goods on 01 March 2022 was R21.60 and R26.20 respectively. Use the information provided below to calculate the following manufacturing variances for March 2022. Note: Each answer must state whether the variance is favourable or unfavourable. 2.2 2.2.1 Labour rate variance (2 marks) 2.2.2 Labour efficiency variance (2 marks) 2.2.3 Variable overheads efficiency variance (2 marks) Variable overheads expenditure variance (2 marks) INFORMATION Nevada Limited set a standard labour rate of R32 per hour and a standard variable overhead rate of R3.80 per labour hour. Actual hours worked for March 2022 were 4 910 at a cost of R149 264. The actual variable overhead cost incurred was R19 640. The standard allowance of labour hours for the output achieved was 5 000 hours