414S ASSIGNMENT 3: MANAGEMENT ACCOUNTING QUESTION 1 (20) Garlicke Security plans

Question

414S ASSIGNMENT 3: MANAGEMENT ACCOUNTING QUESTION 1 (20) Garlicke Security plans to sell 500 alarm systems each month of 2019 at R3 000 each. The inventory holding cost of one alarm system is R25. The cost of placing an order for the alarms is estimated at R20 1.1 Calculate the number of orders that should be placed during 2019 after determining the economic order quantity The basic annual salary of N. Jasat is R156 000, She is entitled to an annual bonus of 80% of her basic monthly salary. Her employer contributes 9% 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),9 of which fall on weekdays. 1.2 Calculate the hourly recovery tariff (rounded off to the nearest cent) for N. Jasat. 1.3 Martha's normal wage is R200 per hour and her normal working day is 8 hours. The standard production time for each employee is 8 units every half hour. On 20 June 2018, Martha's production was 152 units. The Halsey bonus system is in operation and a bonus of 50% of the time saved is given to employees. Calculate Martha's remuneration for 20 June 2018.

Explanation / Answer

In question number first, EOQ Represent the economic order quantity. so the formula will be

EOQ= 2*500*12*20/25

=9600

square root of 9600 is 97 qty per order

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