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4 (Marks:20) Consider the info provided below as well as the financial statements and answer the questions that follow. Madiba Plastics supplies plastic storage containers

image text in transcribed 4 (Marks:20) Consider the info provided below as well as the financial statements and answer the questions that follow. Madiba Plastics supplies plastic storage containers to Checkers. 2020 2021 Sales price per unit Variable cost per unit R20,00 R11,00 R24,00 R12,00 Fixed cost (FC) per annum R650 000,00 Fixed cost per unit R5,00 R855 500,00 R6,00 Current assets Current liabilities Retained profit R850 600,00 R410 000,00 R21 809,00 R960 700,00 R520 000,00 R17 600,00 Net Sales Cost of sales R2 900 320,00 R3 100 100,00 R390 000,00 R475 000,00 Q.4.1 Break-even refers to the point where the income is equal to the costs and where no profit or loss will be made. Q.4.1.1 Calculate the break-even point in units for Madiba Plastics for 2020 and 2021. (7) Q.4.1.2 Compare the results of the 2020 and 2021 break-even point and explain why there might be a difference. (1) Q.4.2 The gross profit margin indicates how profitable sales have been. Q.4.2.1 Calculate the gross profit margin for Madiba Plastics for 2021. Q.4.2.2 Explain the results of the gross profit margin calculation. (4) (2) Q.4.3 What is a statement of financial position? (6)

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