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MAC2601 Assignment 1 Semester 2 OF Principles of management accounting ,UPGRADED

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Disclaimer The information contained in this document is confidential, privileged and only for the information of the intended recipient and may not be used, published or redistributed without the prior written consent of Overcomers Tutorials (Pty) Ltd. The opinions expressed are in good faith and while every care has been taken in preparing this document, Overcomers makes no representations and gives no warranties of whatever nature in respect of this document, including but not limited to the accuracy or completeness of any information, facts and/or opinions contained therein. Overcomers Tutorials (Pty) Ltd, its subsidiaries, the directors, employees and agents cannot be held liable for the use of and reliance of the opinions, estimates, forecasts and findings in this document. MAC2601 Assignment 1 Before the wage agreement signed Normal wages (40hrs X R40) R 1 600 Overtime Wages ( 10hrs X R60) 600 Total Gross Wages 2 200 Less: Pension Fund Contribution (R1 600 X 7.5%) (120) Taxable Wages Less: Other Deductions 2 080 PAYE (R2 080x 18%) (374,40) UIF (R2 200 x 1%) (22,00) Medical Aid (50,00) Net wages payable 1 633.60 After the wage agreement signed Normal wages (40hrs X R40x1.10) R 1 760 Overtime Wages ( 10hrs X R60x1.05) 630 Total Gross Wages 2 390 Less: Pension Fund Contribution (R1760 X 7.5%) (132) Taxable Wages Less: Other Deductions 2 258 PAYE (R2258x 18%) (406,44) UIF (R2 390 x 1%) (23,90) Medical Aid (50,00) Net wages payable 1 777.66 1. 2) R1 777.66 2. 4) R144.06 calculated as follows (R1 777.66 – R1 633.60)=R144.06 3. 3) calculated as follows Industrial - (10 000 x R75)=R750 000 Domestic (11 000 x R75) =R825 000 4. 1)R75 000 over recovered fixed manufacturing overheads Applied (R750 000 +R825 000) R1 575 000 Actual overheads R1 500 000 Over-recovery R75 000

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MAC2601 Assignment 1 Semester 2 OF 2019


Principles of management accounting (University of South Africa)




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MAC2601 ASSIGNMENT 1 SEMESTER 2 OF 2019



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