100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MAC1501 ASSESSMENT 6 SEM 1 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS $5.23   Add to cart

Exam (elaborations)

MAC1501 ASSESSMENT 6 SEM 1 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS

3 reviews
 338 views  14 purchases
  • Course
  • Institution

THIS DOCUMENT CONTAINS MAC1501 ASSESSMENT 6 SEM 1 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS . USING IT CORRECTLY WIL HELP YOU SCORE ABOVE 75%

Preview 4 out of 130  pages

  • May 23, 2024
  • 130
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

3  reviews

review-writer-avatar

By: iamsiphiwemashabane • 3 weeks ago

review-writer-avatar

By: nompilo9512 • 5 months ago

review-writer-avatar

By: ongeziwenota21 • 5 months ago

avatar-seller
Tshiawelo Pty Limited has provided you with the following extract from the financial records for the financial year ended 31 December 2023
R
Cost of sales 2 400 000
Gross profit 40%
Operating expenses 800 000
Interest expense 200 000
Income tax expense 30%
Inventories 800 000
Issued capital 2 000 000
Trade payables 500 000
Trade receivables 600 000
Cash and other equivalents 200 000
Short-term borrowings 500 000
Long-term borrowings 2 000 000
Property Plant and equipment 1 000 000
Required:
Calculate the following ratios by choosing the correct answer from the options provided:

Revenue from sales R4 000 000

Net profit margin 10,5%

Current ratio 1.6 to 1

Quick ratio 0.8 to 1

Debtors’ collection period 54.75 days

Return on assets (ROA) 16.15%

Days’ sales inventory held 121.67 days

Times interest earned ratio 4 times

, UNISA  2024  MAC1501-24-S1  Welcome Message  Assessment 6

QUIZ




Time left 0:02:22

,Question 1
Incomplete answer

Marked out of 15.00




Muzinda (Pty) Ltd is a company established by female entrepreneurs. The company makes school uniforms for various public and private schools. The company, at present, employs two female

workers in the factory. The wage summary of these two employees is as follows:

EMPLOYEE NAME NORMAL WAGE PER VACATION LEAVE (IN

WEEK WEEKS)

Zuzile R1 710 3

Elize R1 575 4

Additional information:

The company operates on a 45-hour week (Mon – Fri), including seventy-five (75) minutes for tea and lunch breaks.
There are ten (10) public holidays per year, two (2) of which occur on Saturdays during the year.

Idle time is estimated at 5% of available production time at work.

Zuzile weekly pension contributions of R410 are allocated at a ratio of 4:6 between the employee and the employer, respectively.
Elize weekly pension contributions of R375 are allocated at a ratio of 3:7 between the employee and the employer, respectively.
The UIF rate for all employees is 2% of total gross remuneration, allocated at a ratio of 1:1 between the employee and employer, respectively.


Required:

Calculate the following items and fill in the missing data by choosing the correct answers from the options provided:

(a) Total annual budgeted productive hours per employee (rounded to decimals).

Zuzile Elize

Number of hours available for production 2 026,35 2 026,35

Less: Vacation leave 135,00 155,00

Less: Paid public holidays 116,25

Number of hours per week 1 744,91 1 708,10


Number of hours available for production 1 744,91 1 708,10

Total annual budgeted productive hours per 1 744,91 1 708,10
employee




(b) Total budgeted labour cost per employee

Zuzile Elize

Normal annual wage 102 752,40 1 543,50

Add: Annual leave 5 130,00 6 300,00

UIF 889,20 834,75

Medical aid 889,20 834,75

Total budgeted labour cost per 88 920,00 97 959,75
employee




(c) Hourly labour recovery rate per employee (rounded to decimals).




Zuzile Elize

Total budgeted labour cost per employee 58,80 56,38




Please put an answer in each box.

, UNISA  2024  MAC1501-24-S1  Welcome Message  Assessment 6

QUIZ




Time left 0:21:55

Question 6
Not yet answered

Marked out of 15.00




Usiba (Pty) Ltd manufactures cellphone chips. An extract from a company's third quarter sales budget for 2024 is as follows:

R

July 1 080 700

August 870 200

September 1 055 480




Twenty five percent (25%) of sales are paid for immediately in cash. Of the credit customers, sixty percent (60%) pay in the month of sale and are entitled to a one percent (1%) discount. The
remaining customers pay a month after the sale is made. The budgeted sales for June 2024 amount to R995 750.

The production budget for cellphone chips for July 2024 to September 2024 is as follows.

July August September

Production units 3 050 2 860 3 620

Each unit of cellphone chip requires 75 minutes of direct labour. The direct labour rate is R40 per hour. Wages are paid in the month of production. Production units of 2 590 cellphone chips are

planned to be produced in June 2024.

The budgeted raw material purchases is as follows.

July August September

R R R

270 300 284 000 289 100

Fifty percent (50%) of material purchases are paid for immediately in cash. Credit purchases are paid for in the month following purchase. The raw material purchases with the value of R240 550

are budgeted for the month of June 2024.

All other costs are paid as incurred.

Required:

Calculate the missing data in the following cash budget and choose the correct answer from the options provided. (Round off to the nearest R1, where applicable).

July August September

R R R


Opening balance of cash 116 758 461 185 695 469

Cash inflows:


Cash collection from sales 1 050 352 929 434 955 146

Cash outflows:


Raw material purchases 255 425 277 150 286 550


Direct labour payment 152 500 143 000 181 000

Payment of other expenses 298 000 275 000 345 200

Net cash surplus/(deficit) 461 185 695 469 837 865

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller oscardiura. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $5.23. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73918 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$5.23  14x  sold
  • (3)
  Add to cart