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kindly assist with solving this question 2.1 REQUIRED Use the weighted average cost method to complete the following table. Where applicable, round off the weighted
kindly assist with solving this question
2.1 REQUIRED Use the weighted average cost method to complete the following table. Where applicable, round off the weighted average cost per unit to the nearest cent and all other amounts to the nearest Rand. (8 marks) INFORMATION The following transactions of Sentinel Manufacturers took place during May 2017 in respect of a component required for a project: 2.2 REQUIRED Calculate the direct labour cost to Canon Enterprises in respect of J. Khoza for the week ended 29 July 2017 from the information provided below. (7 marks) INFORMATION Canon Enterprises submitted the following information for the week ended 29 July 2017 in respect of employee, J. Khoza, employed at project K: 2 Additional information 1. The income tax (PAYE) deduction is calculated at 20% of taxable income. 2. The employee's deduction for medical aid amounted to R400 for the week. The employer contributes 1.5 times the amount contributed by the employees to the fund. 3. The unemployment insurance fund deduction of the employees amount to 1% of the normal wages. The employer contributes the same amount as the employees to the fund. 4. Employees are paid at R80 per hour during normal working hours. 5. Contributions to the pension fund is calculated on the normal wages and is made up as follows: Employee's deduction 8% Employer's contribution 12% 6. The normal working week is from Monday to Friday for 8 hours per day. Any time worked in addition to this on weekdays and Saturdays is overtime, calculated at 1.5 times the normal rate. 7. Overtime on Sundays is remunerated at twice the normal rate. 2.3 REQUIRED Use the information provided below to calculate the following in respect of the project: 2.3.1 Estimate to complete (3 marks) 2.3.2 Estimate at completion (2 marks) INFORMATIONStep by Step Solution
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