QUESTION 4 20 Marks Simply write down the number of the correct option (A, B, C or D) for each question in your answer book Questions 1 & 2 relate to the following scenario: Malusi Manufacturers (Pty) Ltd uses a job costing system The company made the following purchases and issues during their first month of business, in which only two jobs were worked on Material Purchases Issues R R Raw material B 5 000 2 000 (for job 1) Raw material C 3 000 1 000 (for job 2) Raw matenal D 1 000 420 (variable indirect material) Labour Hours Cost R Direct labour Job 1 40 1 600 Job 2 20 800 Fixed indirect labour for the period 1700 Further information about fixed manufacturing overheads Malusi incurred the following other actual fixed manufacturing overheads during the relevant financial period Water and electricity consumption R300, maintenance of equipment R200 and depreciation of equipment R2 000 Budgeted fixed manufacturing overheads (including indirect labour) are allocated to jobs at R30 per direct labour hour Indirect material costs are also assigned to jobs based on the direct labour hours worked Job 1 (1 000 units of product A) was fully completed at a cost of R5,08 per unit but not yet sold Job 2 will only be completed dunng the third month of business 1 The WIP (work-in-progress) balance at the end of the first month of business is A R2 400 B R2 540 C R2 650 DR3 600 2 The balance of the Finished Goods account at the end of the first month of business is A R6 680 B R6 400 CR5 910 DR5 080 ITURN OVER) QUESTION 4 20 Marks Simply write down the number of the correct option (A, B, C or D) for each question in your answer book Questions 1 & 2 relate to the following scenario: Malusi Manufacturers (Pty) Ltd uses a job costing system The company made the following purchases and issues during their first month of business, in which only two jobs were worked on Material Purchases Issues R R Raw material B 5 000 2 000 (for job 1) Raw material C 3 000 1 000 (for job 2) Raw matenal D 1 000 420 (variable indirect material) Labour Hours Cost R Direct labour Job 1 40 1 600 Job 2 20 800 Fixed indirect labour for the period 1700 Further information about fixed manufacturing overheads Malusi incurred the following other actual fixed manufacturing overheads during the relevant financial period Water and electricity consumption R300, maintenance of equipment R200 and depreciation of equipment R2 000 Budgeted fixed manufacturing overheads (including indirect labour) are allocated to jobs at R30 per direct labour hour Indirect material costs are also assigned to jobs based on the direct labour hours worked Job 1 (1 000 units of product A) was fully completed at a cost of R5,08 per unit but not yet sold Job 2 will only be completed dunng the third month of business 1 The WIP (work-in-progress) balance at the end of the first month of business is A R2 400 B R2 540 C R2 650 DR3 600 2 The balance of the Finished Goods account at the end of the first month of business is A R6 680 B R6 400 CR5 910 DR5 080 ITURN OVER)