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QUESTION TWO 2.1 Use the information given below to calculate the net wage of M, Rashford for the last week of June 2022 2.2 INFORMATION M, Rashford is employed by United Enterprises. The normal working week is 42 hours. M, Rashford worked for 49 hours during the last week of June 2022. He is remunerated at R78 per hour during normal working hours. Overtime is calculated at 2½ times the normal rate. The following are his deductions for the week: Medical aid fund Pension fund Income tax R420 9% of the normal wages R920 (5 marl United Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. Calculate the value of closing inventory on 31 January 2023 using the:

QUESTION TWO 2.1 Use the information given below to calculate the net wage of M, Rashford for the last week of June 2022 2.2 INFORMATION M, Rashford is employed by United Enterprises. The normal working week is 42 hours. M, Rashford worked for 49 hours during the last week of June 2022. He is remunerated at R78 per hour during normal working hours. Overtime is calculated at 2½ times the normal rate. The following are his deductions for the week: Medical aid fund Pension fund Income tax R420 9% of the normal wages R920 (5 marl United Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. Calculate the value of closing inventory on 31 January 2023 using the:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Û 2.1 8:03 2.2 2.2.1 INFORMATION QUESTION TWO Use the information given below t calculate the net wage of M, Rashford for the last week of June 2022 Jan 01 M, Rashford is employed by United Enterprises. The normal working week is 42 hours. M, Rashford worked for 49 hours during the last week of June 2022. He is remunerated at R78 per hour during normal working hours. Overtime is calculated at 2½ times the normal rate. The following are his deductions for the week: Medical aid fund Pension fund 08 pert.chegg.com 12 15 Income tax United Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. Calculate the value of closing inventory on 31 January 2023 using the: 18 25 27 The following transactions of Mia Limited took place during January 2023 in respect of a component XYZ used in production: Ċ R420 First-in-first-out (FIFO) method 2.2.2 Weighted Average Cost Method 9% of the normal wages R920 ||| 0.03 Vo KB/S LTED .. = Stock of component XYZ on hand Issued to production Purchased from supplier Returned to supplier (purchased on 12 January 2022) Issued to production Purchased from supplier Issued to production 2 Hill 3 (5 300 units @ R48 per unit 220 units 400 units @ R50 per unit 60 units 340 units 280 units @ R52 per unit 260 units (10 marl (10 marl
Transcribed Image Text:Û 2.1 8:03 2.2 2.2.1 INFORMATION QUESTION TWO Use the information given below t calculate the net wage of M, Rashford for the last week of June 2022 Jan 01 M, Rashford is employed by United Enterprises. The normal working week is 42 hours. M, Rashford worked for 49 hours during the last week of June 2022. He is remunerated at R78 per hour during normal working hours. Overtime is calculated at 2½ times the normal rate. The following are his deductions for the week: Medical aid fund Pension fund 08 pert.chegg.com 12 15 Income tax United Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. Calculate the value of closing inventory on 31 January 2023 using the: 18 25 27 The following transactions of Mia Limited took place during January 2023 in respect of a component XYZ used in production: Ċ R420 First-in-first-out (FIFO) method 2.2.2 Weighted Average Cost Method 9% of the normal wages R920 ||| 0.03 Vo KB/S LTED .. = Stock of component XYZ on hand Issued to production Purchased from supplier Returned to supplier (purchased on 12 January 2022) Issued to production Purchased from supplier Issued to production 2 Hill 3 (5 300 units @ R48 per unit 220 units 400 units @ R50 per unit 60 units 340 units 280 units @ R52 per unit 260 units (10 marl (10 marl
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