1.1 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: Table to complete: 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. REQUIRED Use the information provided below to calculate the following variances. Each answer must indicate whether the variance is favourable or unfavourable. 1.3.1 Material quantity variance (4 marks) 1.3.2 Labour rate variance (4 marks) 1.3.3 Variable manufacturing overheads efficiency variance (4 marks) INFORMATION The standard variable costs per unit (with a standard quantity of 25000 units), set by Kidman Manufacturers, for Product M are as follows: The actual costs for October 2022 are as follows: 2.1 REQUIRED Use the information given below to prepare the Income Statement of Costa Enterprises for the year ended 31 December 2022 using the absorption costing method. (10 marks) INFORMATION Costa Enterprises commenced operations on 02 January 2022, and produces a single product that sells for R72 per unit. During 2022, 300000 units of the product were manufactured of which 240000 units were sold. There was no work-in-process inventory at the end of the year. Manufacturing costs and marketing and administrative costs for 2022 were as follows: 2.2 REQUIRED Use the information given below to calculate the net wage of P. Nkosi for the last working week of March 2023. (5 marks) INFORMATION P. Nkosi is employed by Morkel Enterprises. The normal working week is 45 hours. P. Nkosi worked for 49 hours during the last working week of March 2023. She is remunerated at R200 per hour during normal working hours. Overtime is calculated at 1.5 times the normal rate. The following were her deductions for the week: Morkel Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. INFORMATION Donald, an employee of Disney Limited, is remunerated according to Taylor's differential piecework system. The following details apply: Donald's production for the day was 1300 units