QUESTION 1 (20 Marks) 1.1 REQUIRED Calculate Annes remuneration for 15 April 2022. (4 marks) INFORMATION The normal wage of Anne is R200 per hour and her normal working day comprises 9 hours. The standard production time for each employee is 10 minutes per unit. On 15 April 2022, Annes production was 60 units. Using the Halsey bonus system, a bonus of 50% of the time saved is given to employees. 1.2 REQUIRED Calculate the total labour cost of Judith to Saffron Limited for 2021. (4 marks) INFORMATION The following details relate to Judith, an employee of Saffron Limited, for 2021: R Monthly salary after deductions 24 000 Employees monthly deductions 16 000 Annual bonus 36 000 Employers contribution to pension and medical aid funds per month 3 600 Employees contribution to pension and medical aid funds per month 3 000 1.3 REQUIRED Use the information provided below to calculate the following variances. In each case state whether the variance is favourable or unfavourable. 1.3.1 Material quantity variance (4 marks) 1.3.2 Labour efficiency variance (4 marks) 1.3.3 Variable manufacturing overheads expenditure variance (4 marks) INFORMATION Regal Ltd uses the standard costing system. The standards and actual information for May 2022 for the only product that it manufactures are as follows: Standards: Direct materials 4kg @ R7 per kg Direct labour 5 hours @ R60 per hour Variable manufacturing overheads R12 per labour hour Normal production 12 000 units per month Actual information for May 2022: Direct materials used 43 000kg @ R7.50 per kg Direct labour 56 000 hours @ R58 per hour Variable manufacturing overheads R649 600 Production 11 000 units manufactured