Question-11.1REQUIREDCalculate Mary's earnings for 31 October 2023 using the straight piecework wageincentive scheme.INFORMATIONMary is employed by Menton Manufacturers to sew dresses. The standard time to sew one dress is 40minutes. She is paid R120 per hour and the normal working time is 8 hours per day. If she sews more thanher quota, she receives 1.5 times the hourly rate on the additional output. On 31 October 2023 she sewed18 dresses.1.2REQUIRED Calculate the net salary of H. Gordon for December.INFORMATIONH. Gordon's basic annual salary is R240 000. He receives an annual bonus of 80% of his basic monthlysalary, payable in December each year. His pension deduction is 8% of the basic salary and income tax islevied at 20% on his taxable income.1.3REQUIRED Calculate the economic order quantity for the year.INFORMATIONSuntan Limited produces a product which has a steady monthly demand of 4 000 units. The product requiresa component that is purchased from a supplier at R20 per unit. The ordering cost is R1.20 per order. Theholding cost is 10% of the unit purchase price.

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REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION 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.

REQUIRED Calculate Mary's earnings for 31 October 2023 using the straight piecework wage incentive scheme. INFORMATION 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.

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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