$4A$

SEMESTER TEST $1$

$21$ APRIL $2022$

$\backslash$table$[[$apital$,],[$Retained earnings,$150,000],[$Long$-$term liabilities,$16,000]]$

Additional Information:

Equipment was purchased on $1$ January $2020.$ Depreciation of equipment is done on the straight$-$line method over three years. Current liabilities on $31$ December $2021$ consist of accounts payable of R$24830$ and the outstanding balance of taxation payable for the year. Zamani Ltd$.$ pays provisional tax in February and August based on expected profits. The tax liability at the end of December is usually approximately $3\%$ of the taxation for the year. Accounts receivable on $31$ December $2021$ is R$304188.$ Cash in the bank is estimated to be

R $2559001.$

Required:

All totals to be rounded to the nearest whole number $($no decimals$)$ except unit costs to be rounded to two decimals.

Operational budgets for the year ending $\frac{31}{12}\frac{?}{2021}$ draw up the following:

$\backslash$table$[[,,\backslash$table$[[$Mark$],[$S$]]],[1\mathrm{.}1,$Sales budget,$1],[1\mathrm{.}2,$Production budget,$2],[1\mathrm{.}3,$Material purchases budget,$4],[1\mathrm{.}4,$Direct labour budget,$1],[1\mathrm{.}5,\backslash$table$[[$Manufacturing overheads budget$],[$NB: Indirect material's units $($Material C$)$ should be$],[$rounded off to $3$ decimal places.$]],3],[1\mathrm{.}6,\backslash$table$[[$Cost per unit $($opening & closing$)],[$NB: Round your costs to $2$ decimal places.$]],4]]$

Master budget for the year ending $\frac{31}{12}\frac{?}{2021}-$ draw up the following:

$\backslash$table$[[2\mathrm{.}1,$Statement of comprehensive income,$11],[2\mathrm{.}2,$Statement of financial position,$14]]$