Question 19
Answer saved Goitsemang Company uses a job costing system and
Marked out of overheads are absorbed on direct labour costs. The
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following information relates to the three jobs that were
question
worked during the period:
Job 1 Job 2 Job 3
Opening WIP 8 500 0 46 000
Materials 17 150 29 025 0
Labour 12 500 23 000 4 500
The amount of the budgeted overhead for the period was
R140 000.
Job 3 was completed during the period and consisted of
2 400 units. The company adds 50% to the total
production costs to arrive at the selling price per unit.
Required:
Calculate the following and choose the correct answer
from the options provided:
Predetermined overhead rate 350%
Selling price per unit for Job 3 R41.41
Question 20
Answer saved
An extract from a company's 2025 sales budget is as
Marked out of follows:
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question
January 672 000
February 890 000
March 705 000
April 846 000
, Ten percent (10%) of sales are paid for immediately in
cash. Of the credit customers, 30 percent (30%) pay in the
month following the sale and are entitled to a one percent
(1%) discount. The remaining customers pay two months
after the sale is made.
Required:
Calculate the following items and choose the correct
answer from the list of options provided:
The value of sales receipts shown in the company's
cash budget for March (rounded) R731 757
The value of sales receipts shown in the company's
cash budget for April (rounded) R833 747
Question 21
Answer saved The following is an extract from the financial statements
Marked out of of Chiskop (Pty) Ltd for the year ended 30 June 2024.
4.00
Flag 2024
question
R
Cost of sales 1 155 245
Gross profit 495 105
Inventories 742 960
Trade receivables 907 780
Required:
Complete the table below to calculate the following ratios
and choose the correct answer from the list of options
provided:
Ratio 2024
, Gross profit margin 30%
Inventory turnover ratio 1,55 times
Question 22
Answer saved Bokang (Pty) Ltd operates a normal costing system. One
Marked out of (1) unit of Product J requires 150 metres of direct
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materials and 5 hours of direct labour. Purchase price of
question
direct materials is R5 per metre. Direct labour is paid at
the rate of R90 per hour. Variable production overheads
are absorbed at a rate of R170 per direct labour hour and
fixed production overheads are absorbed at a rate of R60
per direct labour hour.
Required:
Calculate the following items and choose the correct
answer from the list of options provided:
The prime cost of one unit of Product J R1 200
Total input/manufacturing costs of one unit of Product
J R2 350
Question 23
Answer saved Nomafrench Pty Ltd provided you with the following
Marked out of budgeted sales:
4.00
Flag October November December January
question
Budgeted R800 R700 000 R900 000 R500 000
sales value 000
70% of the total budgeted sales are on credit.
, Credit sales are collected in the following pattern:
40% in the month of sale.
55% in the month following the month of sale.
The remainder in the second month following the
month of sale.
Required:
Calculate the following and choose the correct answer
from the options provided.
budgeted total cash receipts for December
R549 500
budgeted total cash collections from customers for
January R511 000
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Answer saved Goitsemang Company uses a job costing system and
Marked out of overheads are absorbed on direct labour costs. The
4.00
Flag
following information relates to the three jobs that were
question
worked during the period:
Job 1 Job 2 Job 3
Opening WIP 8 500 0 46 000
Materials 17 150 29 025 0
Labour 12 500 23 000 4 500
The amount of the budgeted overhead for the period was
R140 000.
Job 3 was completed during the period and consisted of
2 400 units. The company adds 50% to the total
production costs to arrive at the selling price per unit.
Required:
Calculate the following and choose the correct answer
from the options provided:
Predetermined overhead rate 350%
Selling price per unit for Job 3 R41.41
Question 20
Answer saved
An extract from a company's 2025 sales budget is as
Marked out of follows:
4.00
Flag R
question
January 672 000
February 890 000
March 705 000
April 846 000
, Ten percent (10%) of sales are paid for immediately in
cash. Of the credit customers, 30 percent (30%) pay in the
month following the sale and are entitled to a one percent
(1%) discount. The remaining customers pay two months
after the sale is made.
Required:
Calculate the following items and choose the correct
answer from the list of options provided:
The value of sales receipts shown in the company's
cash budget for March (rounded) R731 757
The value of sales receipts shown in the company's
cash budget for April (rounded) R833 747
Question 21
Answer saved The following is an extract from the financial statements
Marked out of of Chiskop (Pty) Ltd for the year ended 30 June 2024.
4.00
Flag 2024
question
R
Cost of sales 1 155 245
Gross profit 495 105
Inventories 742 960
Trade receivables 907 780
Required:
Complete the table below to calculate the following ratios
and choose the correct answer from the list of options
provided:
Ratio 2024
, Gross profit margin 30%
Inventory turnover ratio 1,55 times
Question 22
Answer saved Bokang (Pty) Ltd operates a normal costing system. One
Marked out of (1) unit of Product J requires 150 metres of direct
4.00
Flag
materials and 5 hours of direct labour. Purchase price of
question
direct materials is R5 per metre. Direct labour is paid at
the rate of R90 per hour. Variable production overheads
are absorbed at a rate of R170 per direct labour hour and
fixed production overheads are absorbed at a rate of R60
per direct labour hour.
Required:
Calculate the following items and choose the correct
answer from the list of options provided:
The prime cost of one unit of Product J R1 200
Total input/manufacturing costs of one unit of Product
J R2 350
Question 23
Answer saved Nomafrench Pty Ltd provided you with the following
Marked out of budgeted sales:
4.00
Flag October November December January
question
Budgeted R800 R700 000 R900 000 R500 000
sales value 000
70% of the total budgeted sales are on credit.
, Credit sales are collected in the following pattern:
40% in the month of sale.
55% in the month following the month of sale.
The remainder in the second month following the
month of sale.
Required:
Calculate the following and choose the correct answer
from the options provided.
budgeted total cash receipts for December
R549 500
budgeted total cash collections from customers for
January R511 000
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