Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mo Salah is employed by Liverpool Limited. The normal working wook is 45 hours. Mo Salah worked working hours. Overtime is calculated at 1.5 times

image text in transcribed

image text in transcribed

Mo Salah is employed by Liverpool Limited. The normal working wook is 45 hours. Mo Salah worked working hours. Overtime is calculated at 1.5 times the normal rate. The following per hour during normal the week: Medical aid fund R400 Pension fund 8% of the normal wages Income tax R850 Liverpool Limited contributes the same amount as the employees towards the medical aid fund an pension fund. Required: Calculate the net wage of Mo Salah for the last week of March 2022. Man City Enterprises commenced oporations on 1 January 2022, and produces a single product that sells for R36 per unit. During 2022, 300000 units of the product were manufactured of which 240000 units were sold. There was no work-inprocess inventory at the end of the year. All costs are presented in the table below: Required: Prepare the income statement using the Marginal Costing method for the year ended 31 December 2022

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

More Books

Students also viewed these Accounting questions

Question

Describe the purchases and cash disbursements cycle. LO1.

Answered: 1 week ago

Question

8. Describe the main retirement benefits.

Answered: 1 week ago