QUESTION 11.1 REQUIREDComplete the table for the transactions provided for each of the following methods of inventory valuation:FIFOWeighted Average Cost. (Round off the weighted average cost per unit to the nearestcent and all other amounts to the nearest Rand.)PurchasedDate Quantity Price ValueIssued/ReturnedStock on handQuantityPriceQuantity PriceValueValueINFORMATIONThe following information for March 2020 was extracted from the records of Monalisa Limited, amanufacturing company, for an inventory item used in one of its projects.Date Transaction detailsOpening inventory012 000 units @ R17 eachPurchased0248 000 units @ R18 each1510 000 units at R19.05 each20 000 units @ R20 eachReturned to supplier10 000 damaged units (purchased 02 March)Transferred to the production department30 000 units2203041715 000 units2520 000 unitsPROGRAMME HANDBOOK: JULY 2020 INTAKEMANCOSA: POSTGRADUATE DIPLOMA IN PROJECT MANAGEMENT1.2REQUIREDUse the information given below to calculate the following for the week ended 15 February 2020:Direct labour cost to company in respect of D. Mbele.Labour rate per hour.INFORMATIOND. Mbele is an employee in a project of Franco Manufacturers. The following are his wage details for theweek ended 15 February 2020:Hours worked:*Sunday*Monday to Thursday*Friday*SaturdayPension fund - employee's deductionPension fund - employer's contributionIncome tax deductionUnemployment insurance fund: employee's deductionUnemployment insurance fund: employer's contributionRemuneration during normal working hoursNormal working week (Monday to Friday)4 hours8 hours per day9 hours5 hours7.5% of normal wages10.5% of normal wages20% of taxable income1% of gross wages1% of gross wagesR100 per hour8 hours per day1% times the normal rateRemuneration on Saturdays and overtime on weekdaysRemuneration on SundaysTwice the normal rate

Name: QUESTION 11.1 REQUIREDComplete the table for the transactions provide
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Description: QUESTION 11.1 REQUIREDComplete the table for the transactions provided for each of the following methods of inventory valuation:FIFOWeighted Average Cost. (Round off the weighted average cost per unit to the nearestcent and all other amounts to the

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1.1 REQUIRED Complete the table for the transactions provided for each of the following methods of inventory valuation: FIFO Weighted Average Cost. (Round off the weighted average cost per unit to the nearest cent and all other amounts to the nearest Rand.) Date Quantity Price Value Quantity Price Purchased Issued/Returned Stock on hand Price Value Value Quantity INFORMATION The following information for March 2020 was extracted from the records of Monalisa Limited, a manufacturing company, for an inventory item used in one of its projects. Date Transaction details Opening inventory 01 2 000 units @ R17 each Purchased 48 000 units @ R18 each 10 000 units at R19.05 each 20 000 units @ R20 each Returned to supplier 10 000 damaged units (purchased 02 March) Transferred to the production department 02 15 22 03 04 30 000 units 17 15 000 units 25 20 000 units

1.1 REQUIRED Complete the table for the transactions provided for each of the following methods of inventory valuation: FIFO Weighted Average Cost. (Round off the weighted average cost per unit to the nearest cent and all other amounts to the nearest Rand.) Date Quantity Price Value Quantity Price Purchased Issued/Returned Stock on hand Price Value Value Quantity INFORMATION The following information for March 2020 was extracted from the records of Monalisa Limited, a manufacturing company, for an inventory item used in one of its projects. Date Transaction details Opening inventory 01 2 000 units @ R17 each Purchased 48 000 units @ R18 each 10 000 units at R19.05 each 20 000 units @ R20 each Returned to supplier 10 000 damaged units (purchased 02 March) Transferred to the production department 02 15 22 03 04 30 000 units 17 15 000 units 25 20 000 units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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