Millings Review View Help TUTORIAL ONE (25 MARKS) (30 MINUTES) Oranie Ltd (Oranie") is the leading manufacturer of frozen fruit juices in South Africa and is famous for their frozen lemonade "The Pink lady Oranic has a 31 December 2015 year end. "The Pink lady" "The Pink lady" is a tangy lemonade with lemons as its sole ingredient. The lemonade is packaged in special designer bottles Bottles Bottles have been specifically designed and manufactured in China for Oranje An order was placed for 100 000 bottles on 1 February 2015 The bottles were shipped CIF (Cost Insurance Freight) on 15 April 2015 to South Africa, arrived in South Africa on 10 May 2015 and were also delivered to Oranie on the 10 May 2015 The cost of the bottles includes the following Invoice price R25 000 Freight R73000 Finance cost on loan Custom duties W50 000 R25 000 The following exchange rates are applicable to the above mentioned transaction: Date R: Y 1 February 2015 205 1 15 April 2015 250.1 10 May 2015 3.10.1 31 December 2015 12.101 DlFocus a States Text Predictions on 230 rt elisa Tutorial One - Inventories Question (U) - Served to this PC- Mailings View References Review Help Layout Table Design Layout 10 May 2015 3101 31 December 2015 2 101 Lemons To support the local community, lemons are bought from a local farmer in Gauteng Orang received two batches of lemons. The first batch contained 50 000 lemons with a cost of R186 623 (induding 15% VAT) Orance pad R28 500 for transportation of the lemons to the factory. The second batch contained 75 000 lemons with a cost of R226 973 (including 15% VAT) Qranie paid R37 500 for transportation of the lemons to the factory The supplier offers a 25% trade discount it payment is made within 30 days of the invoice date and always pays its suppliers 15 days after invoice date The following information is applicable for the productions one "Punk lady Cost 3 Lemons 1 Bottle Direct Labour (15 minutes) R50 per hour Variable factory overheads Note 1 Foted factory overheads Note 1 ADDITIONAL INFORMATION 1) Total production overheads are made up of variable overheads of R70 000 and fixed overheads of R330 000 2) There were 2 500 units of Pink lady and zero units of raw material on 1 January 2015 O disa males Design The Ones Gestion (1) - Seved to this PC - Pech Layout References Mailing Review View Helb 3) Closing inventory consists of the following 31 December 2015 Closing stock Units sold Lemons 20 000 Bottles 65 000 Parklady 30 000 4) Qaree Lid uses a highly advanced machine to manufacture the lemonade This machine was acquired on the 1 January 2014 for R11 500 000 (including 15% VAT) It was estimated at the beginning of the year at the machine would produce 1 200 000 units before it would be replaced It is the policy of Orange to base depreciation on the number of units manufactured 5 Actual production for the year was 2 000 bottles lower than normal production 5) Normal capacity is 33 000 bottles of pink lemonade On 31 December 2015 some bottles of "Pink lady" were approaching expiry date and Caic dropped ther song price to R100 per pinklady 3) Sales agents receive R30 per bottle of pink lady sold as sales commission 9) Storage costs wmounted to R40 per und of closing stock of Pratay 10) twentones we valued at the lower of cost and estimated netrale value The cost of finished gods is deemed on a FIFO bass The cost of raw materials is determined on a weighted average 11) Alamos de VAT ness otherwise stated REQUIRED Calculate the cost of us to bed to us frihed goods on hand at the poing period ended 31 December 2015 15 Pot and indonesien of branil potion of an 31 December 2015 and the best in accordance with the entents of a Scik Satu Millings Review View Help TUTORIAL ONE (25 MARKS) (30 MINUTES) Oranie Ltd (Oranie") is the leading manufacturer of frozen fruit juices in South Africa and is famous for their frozen lemonade "The Pink lady Oranic has a 31 December 2015 year end. "The Pink lady" "The Pink lady" is a tangy lemonade with lemons as its sole ingredient. The lemonade is packaged in special designer bottles Bottles Bottles have been specifically designed and manufactured in China for Oranje An order was placed for 100 000 bottles on 1 February 2015 The bottles were shipped CIF (Cost Insurance Freight) on 15 April 2015 to South Africa, arrived in South Africa on 10 May 2015 and were also delivered to Oranie on the 10 May 2015 The cost of the bottles includes the following Invoice price R25 000 Freight R73000 Finance cost on loan Custom duties W50 000 R25 000 The following exchange rates are applicable to the above mentioned transaction: Date R: Y 1 February 2015 205 1 15 April 2015 250.1 10 May 2015 3.10.1 31 December 2015 12.101 DlFocus a States Text Predictions on 230 rt elisa Tutorial One - Inventories Question (U) - Served to this PC- Mailings View References Review Help Layout Table Design Layout 10 May 2015 3101 31 December 2015 2 101 Lemons To support the local community, lemons are bought from a local farmer in Gauteng Orang received two batches of lemons. The first batch contained 50 000 lemons with a cost of R186 623 (induding 15% VAT) Orance pad R28 500 for transportation of the lemons to the factory. The second batch contained 75 000 lemons with a cost of R226 973 (including 15% VAT) Qranie paid R37 500 for transportation of the lemons to the factory The supplier offers a 25% trade discount it payment is made within 30 days of the invoice date and always pays its suppliers 15 days after invoice date The following information is applicable for the productions one "Punk lady Cost 3 Lemons 1 Bottle Direct Labour (15 minutes) R50 per hour Variable factory overheads Note 1 Foted factory overheads Note 1 ADDITIONAL INFORMATION 1) Total production overheads are made up of variable overheads of R70 000 and fixed overheads of R330 000 2) There were 2 500 units of Pink lady and zero units of raw material on 1 January 2015 O disa males Design The Ones Gestion (1) - Seved to this PC - Pech Layout References Mailing Review View Helb 3) Closing inventory consists of the following 31 December 2015 Closing stock Units sold Lemons 20 000 Bottles 65 000 Parklady 30 000 4) Qaree Lid uses a highly advanced machine to manufacture the lemonade This machine was acquired on the 1 January 2014 for R11 500 000 (including 15% VAT) It was estimated at the beginning of the year at the machine would produce 1 200 000 units before it would be replaced It is the policy of Orange to base depreciation on the number of units manufactured 5 Actual production for the year was 2 000 bottles lower than normal production 5) Normal capacity is 33 000 bottles of pink lemonade On 31 December 2015 some bottles of "Pink lady" were approaching expiry date and Caic dropped ther song price to R100 per pinklady 3) Sales agents receive R30 per bottle of pink lady sold as sales commission 9) Storage costs wmounted to R40 per und of closing stock of Pratay 10) twentones we valued at the lower of cost and estimated netrale value The cost of finished gods is deemed on a FIFO bass The cost of raw materials is determined on a weighted average 11) Alamos de VAT ness otherwise stated REQUIRED Calculate the cost of us to bed to us frihed goods on hand at the poing period ended 31 December 2015 15 Pot and indonesien of branil potion of an 31 December 2015 and the best in accordance with the entents of a Scik Satu