Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer the questions from the information provided. 1.1 Use the information provided below to calculate the number of units of Product A that should be

image text in transcribed

image text in transcribed

image text in transcribed

Answer the questions from the information provided. 1.1 Use the information provided below to calculate the number of units of Product A that should be produced during July 2023. (4 marks) INFORMATION Norwich Limited's sales forecasts of Product A for July and August 2023 are as follows: The company's policy is to maintain an inventory of 20% of the following month's sales. 1.2 Use the information provided below to prepare the Pro-Forma Statement of Comprehensive Income for the year ended 31 December 2023 that reflects the gross profit, operating profit, profit before tax and profit after tax. (4 marks) INFORMATION The following reflects the forecasts of ABC Limited for the year ended 31 December 2023: 1.3 Calculate the annual economic order quantity from the information provided below. (4 marks) INFORMATION The monthly sales of an item is 800 units. The cost is R3 per unit and the unit selling price is R5. The ordering cost amounts to R40 per order and the holding cost per unit is equal to 20% of the unit cost of the item. 1.4 Use the information given below to determine the cost (as a percentage, expressed to two decimal places) to Montclair Traders of not accepting the discount. marks) INFORMATION Protec Wholesalers' usual credit terms to Montclair Traders are 30 days but the supplier is prepared to allow a discount of R114 if the account of R3800 is settled within 12 days. 1.5 Calculate the value of inventories as at 31 July 2022 from the information provided below. (4 marks) INFORMATION The following information applies to Rico Traders as at 31 July 2022 , the end of the financial year: Current ratio =2.5:1 Acid test ratio =1.2:1 Current liabilities =R240000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Inventory

Authors: Steven M. Bragg

2nd Edition

1938910648, 9781938910647

More Books

Students also viewed these Accounting questions