QUESTION $2$

$2\mathrm{.}1$ List and describe the four financial statements a company requires to run its business.

$2\mathrm{.}2$ A company manufacturing ceiling fans has the following costs associated with their assembly process. Determine if the costs are direct material, direct labor or manufacturing overhead costs.

a$.$ Supervisors and managers in the factory

b$.$ Insurance and property taxes

c$.$ Nuts and bolts

d$.$ Assemblers

e$.$ Repair parts

f$.$ Paint

$2\mathrm{.}3$ The production supervisor at Nestle Inc. submits a material requisition form for R$20000$ of silica sand, R$40000$ of calcium oxide and R$15000$ of magnesium for the processing department. Prepare a journal entry to reflect the transactions.

$(2)$

$2\mathrm{.}4$ The mixing department at Nestle incurred a direct labor cost of R$25000$ and indirect labor cost of R$10000$ during the month of October $2023.$ Prepare a journal entry to reflect these transactions.

$(3)$

$[$TURN OVER$]$