Other
MAC2601 Assignment 5 2023 Solution
- Course
- Accounting 200 (MAC2601)
- Institution
- University Of Johannesburg (UJ)
MAC2601 Assignment 5 2023 solution
[Show more]
Seller
Follow
Content preview
MAC2601 ASSESSMENT 5 - MAY 2023 - SolutionQUESTION 1
MCQs
1. B
2. A
3. B
4. A
5. A
Cost per unit (change)
= (Y1 -Y2) / (X1 -X2)
= (R150 000 – R50 000) / (100 000– 20 000)
= R1,25
6. D
7. D
8. A
9. A
10. C
Question 2
1. Averaged/Average
2. Physical
3. Risk
4. (SP x 900) – (R350 x 900) = R36 000
900SP -315 000 = R36 000
SP = R390
5. Evenly/ uniformly
6. Production/Manufacturing overheads (Clearance)
7. Alternatives/ options
8. Sunk (cost)
9. Normal
10. Budgeted
QUESTION 3
Details Calculations June July August
R R R
Receipts:
Sales/Receipts 1 057 500 815 800 954 175
Cash C1 900 000 656 000 765 000
Credit C1 157 500 159 800 189 175
Payments:
, Purchases C2 -712 500 -783 750 -862 125
Manufacturing June: 102 500 -62 500 -112 750 -124 025
overheads – 40 000
Selling expenses -26 250 -28 875 -31 763
Selling of a machine 35 000
Tax liability -78000
Opening balance 125 000 416 250 306 675
Closing balance 416 250 306 675 164 937
Calculations
1. Sales
Cash (80%) Credit 20%
June:1 125 000 900 000 225 000
July: 820 000 656 000 164 000
August: 956 250 765 000 191 250
Collection for credit sales
June July August
R R R
June sale -
R225 000 70% (June) 157 500
20% (July) 45 000
10% (August) 22 500
July sale- R164
000 70% (July) 114 800
20% (August) 32 800
August sale-
R191 250 70% (August) 133 875
Total 157 500 159 800 189 175
2. Purchases
June: R235 000 + R375 000 + R102 500= R712 500
July: R712 500 x 1.1 = R783 750
August: R783 750 x 1.1 = R862 125
The benefits of buying summaries with Stuvia:
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
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller anushkeharmse08. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. 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 summaries for 14 years now