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1.The following information was obtained from the accounting records of First Ltd: 2018 R 95 470 Summarised financial position for year ended 31 December 2019 ASSETS R Land and buildings 104 865 Investments Nil Machinery at carrying amount 6 500 Cost 8 700 Accumulated depreciation (2 200) Inventories 12 000 Trade debtors 10 205 Cash at bank 13 500 1 100 1 600 5 400 (3 800) 9 000 30 700 Nil TOTAL ASSETS 147 070 137 870 EQUITY & LIABILITIES 100 070 78 470 Equity Ordinary share capital Retained earnings 68 000 85 000 15 070 10 470
DISTANCE Liabilities 47 000 20 000 Nil 59 400 30 000 700 Long term loan Bank overdraft Trade creditors Income tax payable Dividends payable 6 600 2 000 18 400 9 200 4 100 15 400 TOTAL EQUITY AND LIABILITIES 147 070 137 870 Additional information: 1. The following was extracted from the statement of comprehensive income and statement of changes in equity for financial year ended 31 December 2019. Income R Profit on sale of land and buildings 7 000 Profit on sale of machinery 300 Expenses: Depreciation 1 000 Administration expenses 29 730 Selling expenses 12 005 Loss on sale of investment 500 Interest expense 20 Taxation expense 18 000 Profit for the year 23 000 Appropriation: Dividends declared 18 400 2. The investments of the company were sold for R600 cash. 3. A portion of the land and buildings with a cost price of R11 000 was sold during the year for R18 000 cash. Additional land was purchased for R20 395 cash.
ACADEMIC AND ASSESSMENT CALENDAR.IS 4. Machinery to the value of R6 400 was purchased for cash. Machinery with a carrying amount of R500 was sold at a profit of R300. 5. The company paid a portion of the long term liability. No further long term loans were taken 6. The company issued new ordinary shares during the year. Required: Draft the statement of cash flows for the year ended 31 December 2019 method in compliance with international financial reporting standards in as much as the given information allows. The indirect method is in use. Show all workings. (25) END OF ACCOUNTING 1: ASSIGNMENT 2

2.Way Cool produces two different models of air conditioners. The company produces the mechanical systems in its components department. The mechanical systems are combined with the housing assembly in its finishing department. The activities, costs, and drivers associated with these two manufacturing processes and the production support process follow. Process Activity Components Changeover Machining Setups Quantity 830 B, 110 88 Finishing Welding Inspecting Rework Overhead Cost Driver $ 452, 350 Number of batches 376, 384 Machine hours 147,200 Number of setups $ 975,854 $ 484,15€ Welding hours 290,175 Number of inspections 66,00 Rework orders $ 768,325 $ 184,478 Purchase orders 32,180 Number of units 35.940 Number of units $ 252,510 5,900 795 240 Support Purchasing Providing space Providing utilities 473 3,600 3,600 Additional production Information concering its two product lines follows. Units produced Welding hours Batches Number of inspections Machine hours Setups Rework orders Purchase orders Model 145 Model 212 1,200 2,480 2,480 3,500 415 415 465 330 2,850 5,260 40 40 150 90 315 158 Required: 1. Using ABC, compute the overhead cost per unit for each product line. 2 Determine the total cost per unit for each product line if the direct labor and direct materials costs per unit are $210 for Model 145 and $120 for Model 212 3. If the market price for Model 145 is $1.004.77 and the market price for Model 212 is $551.97, determine the profit or loss per unit for each model
Complete this question by entering your answers in the tabs below. Required 1 1 Required 2 Required 3 Using ABC, compute the overhead cost per unit for each product line. (Round your final answers to 2 decimal places.) Expected Costs Expected Activity Model 145 Activity driver Overhead incurred assigned Model 212 Activity driver Overhead incurred assigned Activity Rate $ $ Activity Components Changeover Machining Setups Finishing Welding 452,350 378,304 147,200 830 Number of batches 8,110 Machine hours 80 Setups S Inspecting 404,150 290,175 88,000 5,900 Welding hours 795 Inspections 240 Rework orders Rework Support Purchasing Providing space and utilities $ 184,4701 88,040 473 Purchase orders 3,600 Units $ $ 0 Total overhead cost Total units produced Overhead cost per unit Required Required 2 >
Cardiff and Delp is an architectural firm that provides services for residential construction projects. The following data pertain to a recent reporting period. Activities Costs Design department Client consultation Drawings Modeling Project management department Supervision Billings Collections 1,700 contact hours 2,680 design hours 50,000 square feet $ 238,eee 139, 100 30,000 900 days 6 Jobs 6 jobs $153,690 8,380 8,260 Required: 1. & 2. Using ABC, compute the firm's activity overhead rates. Form activity cost pools where appropriate. Assign costs to a 7.800- square-footjob that requires 420 contact hours, 352 design hours, and 190 days to complete. (Round activity rate answers to 2 decimal places.) Activity Expected Costs Expected Activity Driver Activity Rate Activity Driver Incurred Overhead Assigned Client consultation Drawings Modeling Supervision Billings Collection Total overhead cost.

3.Preparing maintenance budget is a function. Select one: A. composite B. primary C. basic D. secondary.