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Use the information given below to calculate the net wage of H, Kane for the last week of May 2021.
INFORMATION:
H, Kane is employed by Hot- Spur Enterprises. The normal working week is 45 hours.
H, Kane worked for 48 hours during the last week of May 2021.
She is remunerated at R80 per hour during normal working hours.
Overtime is calculated at 1½ times the normal rate.
The following are her deductions for the week:
- Medical aid fund R350
- Pension fund 8% of the normal wages
- Income tax R830
Hot- Spur Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund.
The following transactions of Hector Limited took place during January 2022 in respect of component J used in production:
- Stock of component J on hand - 150 units @ R24 per unit
- Issued to production - 110 units
- Purchased from supplier - 200 units @ R25 per unit
- Returned to supplier (purchased on 12 January 2022) - 30 units
- Issued to production - 170 units
- Purchased from supplier - 140 units @ R26 per unit
- Issued to production - 130 units
Calculate the value of closing inventory on 31 January 2022 using the:
- First-in-first-out (FIFO) method
- Weighted Average Cost Method
Blaze LTD plans to start ‘Project Supreme’ and the following information is applicable to the project for the first financial year:
The estimated sales for the financial year are 2000 units with a selling price of R800 per unit. The variable manufacturing cost per unit and sales commission per unit are R420 and R60 respectively. Fixed manufacturing overheads are R330 000 and fixed administrative expenses are R150 000.
- Calculate the expected total Marginal Income and Net Profit/Loss.
- Calculate the break-even value, if the fixed costs are 10% greater than anticipated.
- Calculate the number units required to break-even if the selling price is reduced by R40, and sales commission is calculated at 10% of the selling price.
- Suppose Blaze LTD wants to make provision for an increase in advertising by R30 000 and a drop in the selling price by R100 per unit, with the expectation that sales will increase by 400 units. Will profitability improve? Motivate your answer with the relevant calculations.
Arturo started to deposit 2,000 monthly in a fund that pays 8% compounded quarterly how much will be in the fan after 20 years
Mabel borrowed an amount of money from her father. The loan will be paid back by means of R25000 each every second six month for six years. An interest rate of 7.5% per year,compounded every two months,will be applicable. The amount of the loan is?
Find the simple interest gained by €2000 over 4 years at 6% annual interest
Buildmazing Developers need an amount of money to expand their business. They secure a loan at an
interest rate of 10,5% per year, compounded annually. The outstanding balance will be repaid in equal
payments of R137 828,00 at the end of each year for the next seven years. Considering the amortisation
schedule, the principle repaid during the first three years, rounded to the nearest rand,is
What percentage of $320.80 is $111.28
$500 is deposited in an account which bears 12%p.a interest compound monthly. Use the compound interest formula to find the number of years it would take to accumulate $500 to $806.11
Prince wants to open a Hair Salon and asks his uncle Lerumo if he wil l lend him the money. He also indicates that he wil l only be able to start paying him back after five years, at which time he wil l then pay R35 000 at the end of every four months, for four years. Uncle Lerumo agrees, on condition that his money must earn 12,2% interest per year,compounded every four months
1.The present value of Prin e's debt when he starts paying ba k un le Lerumo after 5 years will be?
2.The amount that Unc le Lerumo lends Prince is?
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