Question 1 Use the information provided to answer the questions. 1.1 1.2 1.3 1.4 Calculate the annual economic order quantity from the information provided below. INFORMATION GM Electronics expects to sell 800 alarm systems each month of 2022 at R4 000 each. The cost price of each alarm system is R2 000. The inventory holding cost of an alarm system is 1% of the unit cost price. The cost of placing an order for the alarm systems is estimated at R60. Study the information provided below and calculate the hourly recovery tariff per hour (expressed in rands and cents) of Martha. INFORMATION The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthly salary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365 days), 8 of which fall on weekdays. Use the information provided below to calculate Samantha's remuneration for 17 March 2022. INFORMATION Samantha's normal wage is R300 per hour and her normal working day is 8 hours. The standard production time for each employee is 4 units for every 30 minutes. On 17 March 2022, Samantha's production was 76 units. Using the Halsey bonus system, a bonus of 50% of the time saved is given to employees. Calculate the earnings of G. Henry using the straight piecework incentive scheme from the information provided below. INFORMATION G. Henry is employed by Royal Manufacturers and is paid R250 per hour. His normal working day is 9 hours. The standard time to produce a product is 5 minutes. If G. Henry produces more than his quota, he receives 1½ times the hourly rate on the additional output. G. Henry produced 132 units for the day.
Question 1 Use the information provided to answer the questions. 1.1 1.2 1.3 1.4 Calculate the annual economic order quantity from the information provided below. INFORMATION GM Electronics expects to sell 800 alarm systems each month of 2022 at R4 000 each. The cost price of each alarm system is R2 000. The inventory holding cost of an alarm system is 1% of the unit cost price. The cost of placing an order for the alarm systems is estimated at R60. Study the information provided below and calculate the hourly recovery tariff per hour (expressed in rands and cents) of Martha. INFORMATION The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthly salary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365 days), 8 of which fall on weekdays. Use the information provided below to calculate Samantha's remuneration for 17 March 2022. INFORMATION Samantha's normal wage is R300 per hour and her normal working day is 8 hours. The standard production time for each employee is 4 units for every 30 minutes. On 17 March 2022, Samantha's production was 76 units. Using the Halsey bonus system, a bonus of 50% of the time saved is given to employees. Calculate the earnings of G. Henry using the straight piecework incentive scheme from the information provided below. INFORMATION G. Henry is employed by Royal Manufacturers and is paid R250 per hour. His normal working day is 9 hours. The standard time to produce a product is 5 minutes. If G. Henry produces more than his quota, he receives 1½ times the hourly rate on the additional output. G. Henry produced 132 units for the day.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Question 1
Use the information provided to answer the questions.
1.1
1.2
1.3
1.4
Calculate the annual economic order quantity from the information provided below.
INFORMATION
GM Electronics expects to sell 800 alarm systems each month of 2022 at R4 000 each. The cost price of each
alarm system is R2 000. The inventory holding cost of an alarm system is 1% of the unit cost price. The cost of
placing an order for the alarm systems is estimated at R60.
Study the information provided below and calculate the hourly recovery tariff per hour (expressed in
rands and cents) of Martha.
INFORMATION
The basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthly
salary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from
Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365
days), 8 of which fall on weekdays.
Use the information provided below to calculate Samantha's remuneration for 17 March 2022.
INFORMATION
Samantha's normal wage is R300 per hour and her normal working day is 8 hours. The standard production time for
each employee is 4 units for every 30 minutes. On 17 March 2022, Samantha's production was 76 units. Using the
Halsey bonus system, a bonus of 50% of the time saved is given to employees.
Calculate the earnings of G. Henry using the straight piecework incentive scheme from the
information provided below.
INFORMATION
G. Henry is employed by Royal Manufacturers and is paid R250 per hour. His normal working day is 9 hours. The
standard time to produce a product is 5 minutes. If G. Henry produces more than his quota, he receives 1½ times
the hourly rate on the additional output. G. Henry produced 132 units for the day.
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