Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION (4 marks) Mary is employed by Menton Manufacturers

image text in transcribed

REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION (4 marks) Mary is employed by Menton Manufacturers to sew dresses. The standard time to sew one dress is 40 minutes. She is paid R120 per hour and the normal working time is 8 hours per day. If she sews more than her quota, she receives 1.5 times the hourly rate on the additional output. On 31 October 2023 she sewed 18 dresses. 1.2 REQUIRED Calculate the net salary of H. Gordon for December. (4 marks) INFORMATION H. Gordon's basic annual salary is R240 000. He receives an annual bonus of 80% of his basic monthly salary, payable in December each year. His pension deduction is 8% of the basic salary and income tax is levied at 20% on his taxable income. 1.3 REQUIRED Calculate the economic order quantity for the year. (4 marks) INFORMATION Suntan Limited produces a product which has a steady monthly demand of 4 000 units. The product requires a component that is purchased from a supplier at R20 per unit. The ordering cost is R1.20 per order. The holding cost is 10% of the unit purchase price.

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_2

Step: 3

blur-text-image_3

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

Core Concepts Of Accounting Information Systems

Authors: Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman

11th Edition

9780470507025, 0470507020

More Books

Students explore these related Accounting questions