SECTION A [100 MARKS] Answer ALL the questions in this section. Question 1 Use the information provided to answer the qu

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SECTION A [100 MARKS] Answer ALL the questions in this section.Question 1 Use the information provided to answer the questions.Calculate the annual economic order quantity from the informationprovided below. (4 marks) INFORMATION GM Electronics expects tosell 800 alarm systems each month of 2022 at R4 000 each. The costprice of each alarm system is R2 000. The inventory holding cost ofan alarm system is 1% of the unit cost price. The cost of placingan order for the alarm systems is estimated at R60. 1.1 Study theinformation provided below and calculate the hourly recovery tariffper hour (expressed in rands and cents) of Martha. (4 marks)INFORMATION The basic annual salary of Martha is R576 000. She isentitled to an annual bonus of 90% of her basic monthly salary. Heremployer contributes 8% of her basic salary to her pension fund.She works for 45 hours per week (from Monday to Friday). She isentitled to 21 days paid vacation leave. There are 12 publicholidays in the year (365 days), 8 of which fall on weekdays. 1.2Use the information provided below to calculate Samantha’sremuneration for 17 March 2022. (4 marks) INFORMATION Samantha’snormal wage is R300 per hour and her normal working day is 8 hours.The standard production time for each employee is 4 units for every30 minutes. On 17 March 2022, Samantha’s production was 76 units.Using the Halsey bonus system, a bonus of 50% of the time saved isgiven to employees. 1.3 Calculate the earnings of G. Henry usingthe straight piecework incentive scheme from the informationprovided below. (4 marks) INFORMATION G. Henry is employed by RoyalManufacturers and is paid R250 per hour. His normal working day is9 hours. The standard time to produce a product is 5 minutes. If G.Henry produces more than his quota, he receives 1½ times the hourlyrate on the additional output. G. Henry produced 132 units for theday. 1.4 From the information provided below complete the tableusing the FIFO method of inventory valuation: 1.5 (4 marks)Purchased Issues and returns Balance Date Quantity Price AmountQuantity Price Amount Quantity Price Amount The followingtransactions of Franco Manufacturers took place during March 2022:Date Transaction Units Price per unit 01 Opening inventory 1 600R3.50 05 Purchased from a supplier 600 R4.00 12 Purchased from asupplier 1 300 R4.50 24 Purchased from a supplier 1 600 R5.00 16Issued to production 1 800 ? 28 Issued to production 1 300 ?Question 2 Answer the questions from the information provided. Usethe information given below to prepare the Income Statement forMarch 2022 according to the absorption costing method. 2.1 (12marks) INFORMATION The following information was extracted from theaccounting records of Alpha Enterprises for the month ended 31March 2022: Sales 3 200 units Selling price per unit R100 Finishedproducts on 01 March 2022 400 units Products manufactured duringthe month 3 600 units Variable manufacturing costs per unit R26Variable selling and administrative costs per unit sold R12 Fixedmanufacturing costs R25 200 Fixed selling and administrative costsR12 400 Additional information The variable manufacturing cost perunit and total manufacturing cost per unit of the finished goods on01 March 2022 was R21.60 and R26.20 respectively. Use theinformation provided below to calculate the following manufacturingvariances for March 2022. Note: Each answer must state whether thevariance is favourable or unfavourable. 2.2 2.2.1 Labour ratevariance (2 marks) 2.2.2 Labour efficiency variance (2 marks) 2.2.3Variable overheads efficiency variance (2 marks) Variable overheadsexpenditure variance (2 marks) INFORMATION Nevada Limited set astandard labour rate of R32 per hour and a standard variableoverhead rate of R3.80 per labour hour. Actual hours worked forMarch 2022 were 4 910 at a cost of R149 264. The actual variableoverhead cost incurred was R19 640. The standard allowance oflabour hours for the output achieved was 5 000 hours.