DWS Limited, a chemical firm, manufactures three joint products X, Y, Z and a by-product, W, in a single production process. An input of 25kg of raw material used in the production process produces 14 units of X, 12 units of Y, 8 units of Z, and 200 units of W. Products X, Y and Z can be either sold at the split-off point or processed further. The by-product W is sold at the split-off point without further processing. The budgeted cost for an input of 8 000 kg of raw material for the first quarter of 2022 is as follows: Fixed costs (total) Variable costs Joint costs R106 560 R15 per kg input Further processing costs: X R35 000 R12 per unit Y R36 000 R10 per unit Z R13 000 R5 per unit The estimated selling prices per unit are as follow: Product Not processed further Processed further X R15.00 R30.00 Y R11.00 R36.00 Z R13.00 R20.00 W R1.50 NIL Assume that there is no opening or closing inventories: REQUIRED: 3.1 Calculate the budgeted profit of each product for the first quarter of 2022 if all products are processed further and joint costs are allocated in proportion to the physical quantity yielded by the respective products X, Y and Z. (15 Marks) 3.2 Determine which products should be sold at the split-off point and which should be sold after further processing. Calculate the total profit in this case. (5 Marks) QUESTION FOUR (20 Marks) 4.1 Study the information provided below and answer the following questions. Radasys Suppliers anticipates annual sales of 144 000 units of a product. Radasys sells the product at R45 per unit, using the pricing formula: cost plus 50%. The ordering cost is R30 per order and the carrying cost of 5% of the unit purchase price. REQUIRED: 4.1.1 Calculate the number of orders that must be placed during the year based on the most advantageous quantity for the firm to order each time. (5 Marks) 4.1.2 Calculate the total annual ordering and carrying costs of the product. (3 Marks) 4.2 Study the information provided below and answer the following questions. INFORMATION The data below relates to the production process of a small business. R Input 5 000 kg of materials costing 600 000 Labour costs 100 000 Expenses cost 200 000 Overhead cost 100 000 Additional information: Normal loss is estimated to be 10 per cent of input. Losses are sold as scrap for R50 per kg. Actual output was 4 700 kg. REQUIRED: Prepare the following accounts: 4.2.1 The process account. (6 Marks) 4.2.2 The scrap account. (3 Marks) 4.2.3 The abnormal account. (3 Marks)