Please refer to screenshots for question Use the following information to answer questions 17, 18, 19 and 20:Camarvon Caps (Pty) Ltd ("Camarvon Caps") manufactures and sells two types of headwear,namely the Cricket Hat (CH) and the Fashion Visor ("Visor"). The company has a 31 Decemberyear-end.On 31 December 2019, Camarvon Caps had 5 000 units of CH and 8 000 units of Visor on hand.Depending on whether direct or absorption costing principles were applied, the following inventoryvalues would be associated with these units:CHVisorR320 000Direct costing valueAbsorption costing valueR720 000Details of the actual manufacturing costs for the financial year ended 31 December 2020 were asfollows:• Direct material costs of R25 per unit of CH and R40 per unit of Visor were incurred.Other direct costs in the form of packaging costs were incured at R5 per unit, irrespective ofproduct type.Direct labour costs of R21 per unit and R32 per unit were incurred for CH and Visor, respectively.Variable manufacturing overheads ofR19 per unit of CH and R18 per unit of Visor were incurred.13МАC2601/103Details of the actual non-manufacturing costs for the financial year ended 31 December 2020 wereas follows:• Variable selling costs in the form of sales commission were inaurred at R3 per unit, irrespective ofproduct type.• Total fixed administration costs amounted to R1 000 000 and R800 000 for CH and Visor,respectively.Additional information:• CH sells at R120 per unit and Visor sells at R160 per unit.During the 2020 financial year, 85 000 units of CH were produced and 82 000 sold, whereas58 000 units of Visor were produced and 54 000 sold.• The predetemined blanket overhead rate for the 2019 financial year was R9 per unit andincreased to R10 per unit for the 2020 financial year. The management accountant of CamarvonCaps remembers correctiy from her MAC2601 studies that applied fixed manufacturingoverheads are included in product costs when absorption costing principles apply.Camarvon Caps uses the First-In-First-Out (FIFO) method of inventory valuation. MAC2601/103QUESTION 20The actual gross profit per unit of the Visor is for the 2020 financial year.(1)(2)R70R40R103(3)(4)R57

Variable cost: It is the cost that changes with the change in the level of units produced.e.g.,…

Use the following information to answer questions 17, 18, 19 and 20: Camanvon Caps (Pty) Ltd "Camarvon Caps)manufactures and sells two types of headwear, namely the Cricket Hat (CH) and the Fashion Visor (Visor). The company has a 31 December year-end. On 31 December 2019, Camarvon Caps had 5 000 units of CH and 8 000 units of Visor on hand. Depending on whether direct or absorption costing principles were applied, the following inventory values would be associated with these units: CH Visor Direct costing value Absorption costing value R320 000 R720 000 Details of the actual manufacturing costs for the financial year ended 31 December 2020 were as foliows

Use the following information to answer questions 17, 18, 19 and 20: Camanvon Caps (Pty) Ltd "Camarvon Caps)manufactures and sells two types of headwear, namely the Cricket Hat (CH) and the Fashion Visor (Visor). The company has a 31 December year-end. On 31 December 2019, Camarvon Caps had 5 000 units of CH and 8 000 units of Visor on hand. Depending on whether direct or absorption costing principles were applied, the following inventory values would be associated with these units: CH Visor Direct costing value Absorption costing value R320 000 R720 000 Details of the actual manufacturing costs for the financial year ended 31 December 2020 were as foliows

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

create a journal entry in the proper format
How do you create a journal entry accurately ?
Please provide the introductory part and answer for question D.
HI Exam A "Queue" is also known as what? a. Linked list b. LIFO C. FIFO d. Stack
Which browser tool can be used to quickly navigate to a frequently visited website in QuickBooks Online? Select an answer: Bookmarks Ctrl + click Zoom Multiple tabs
Write a about memorandum message
The QBO Sat Nav, which assists with navigating QuickBooks Online, contains which of the following main processes? Multiple Choice O QBO Settings QBO Transactions All of the choices are correct QBO Reports
Any help is appreciated, here is the question. https://drive.google.com/file/d/0B-AOAJtLKPhfOEJhR0RWRWtmT3BGVVljQUZaRko0Zkh2NDRr/view?usp=sharing
Please give the Rectified entries
How do you get a report into PDF format? Select an answer: You need to email the report and then convert it to PDF. Click on the Export button and Click on Export as PDF. You cannot export reports into PDF. You have to print the report and then scan it as a PDF.