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    GR 11 Control Test 2022 ENG Ans BK

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    wdpnika2007
    Eng physics

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    GR 11 Control Test 2022 ENG Ans BK

    Uploaded by

    wdpnika2007
    22 views7 pages
    Eng physics

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    Gr 11 Control Test 2022 ENG Ans Bk

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    Eng physics

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views7 pages

    GR 11 Control Test 2022 ENG Ans BK

    Uploaded by

    wdpnika2007
    Eng physics

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 7

    ASSESSMENT ASSESSMENT

    ANSWER BOOK ANSWER BOOK

    GRADE: 11

    SUBJECT: ACCOUNTING

    TYPE: Control Test 2

    TOPIC: Budgets, Inventory Systems, Manufacturing Costs

    DATE: 6 September 2022

    TEST PERIOD X
    CLASS PERIOD X

    TOTAL: 100

    TIME: 1 ½ hours

    ASSESSMENT (NO. OF PAGES): 6


    ADDENDA (PAGES): 7

    EXAMINER: P. ELLIS
    MODERATOR: N. FOURIE

    INSTRUCTIONS:
    Workings must be shown in order to achieve part-marks.
    Non-programmable calculators may be used.
    You may use a dark pencil or blue/black ink to answer the questions.

    Name: Question 1 40

    Class: Question 2 15

    Educator: Question 3 25

    Question 4 20

    TOTAL 100
    Grade 11 Accounting Control Test 2

    QUESTION 1: BUDGETS (40 marks; 35 minutes)

    1.1 Complete the table by filling in only the amounts in the appropriate columns.
    PROJECTED
    CASH BUDGET
    No. INCOME STATEMENT
    RECEIPT PAYMENT INCOME EXPENSE
    1.1.1
    4.1.2
    4.1.3
    6

    1.2.1 Complete the Debtors Collection Schedule.

    CREDIT
    MONTH SEPTEMBER OCTOBER
    SALES
    July 288 000 103 680✓
    August 268 800
    September
    Cash received from debtors
    5

    1.2.2 Show the calculation for the amount payable to creditors for October 2022.

    Page 2 of 7
    Grade 11 Accounting Control Test 2

    1.2.3
    HULK TRADERS
    CASH BUDGET FOR THE PERIOD 1 SEPTEMBER 2022 TO 31 OCTOBER 2022

    CASH RECEIPTS SEPTEMBER OCTOBER


    Cash sales 76 800

    TOTAL RECEIPTS

    CASH PAYMENTS
    Payment to creditors 213 750
    Operating expenses
    Wages 24 000
    Salaries 30 000
    Drawings 45 000
    Water and electricity 5 720

    TOTAL PAYMENTS

    Cash surplus (shortfall) for the year


    Bank – opening balance
    Bank – closing balance
    26

    TOTAL MARKS

    40

    Page 3 of 7
    Grade 11 Accounting Control Test 2

    QUESTION 2 (15 marks; 10 minutes)

    A O L
    No System Account Dr Account Cr
    Indicate + or - only
    2.1 The owner took stock costing R5 000 for personal use.

    Perpetual

    Periodic

    2.2 Paid R700 via EFT to A2Z Couriers to deliver merchandise purchased.

    Perpetual

    Periodic

    TOTAL MARKS

    15

    QUESTION 3: PERIODIC INVENTORY SYSTEM (25 marks; 25 minutes)

    3.1
    TRADING ACCOUNT
    2022 2022
    Feb
    28
    Feb
    28 Sales 3 968 000

    14

    Page 4 of 7
    Grade 11 Accounting Control Test 2

    3.2 Calculate cost of sales. Show ALL workings.

    3.3 Calculate the mark-up % achieved.

    3.4 The business aims to achieve a mark-up of 60% on cost. Comment on your
    answer obtained in 3.3 above.

    Give TWO possible reasons for the actual mark-up % being different from the
    intended mark-up %.

    TOTAL MARKS

    25

    Page 5 of 7
    Grade 11 Accounting Control Test 2

    QUESTION 4: MANUFACTURING (20 marks; 20 minutes)

    4.1 MZANSI MANUFACTURERS

    4.1.1 Calculate the direct material cost.

    4.1.2

    WORK-IN-PROCESS
    2021
    July 1 Balance b/d 284 000

    2022
    June 30

    Page 6 of 7
    Grade 11 Accounting Control Test 2

    4.2 FORESHORE FASHIONS

    4.2.1 Break-even point for the year ended 28 February 2022.

    4.2.3 Total raw material cost (fabric) increased drastically from February
    2021 to February 2022. Apart from price increases/ inflation, give
    TWO other possible reasons for this increase.

    TOTAL MARKS

    20

    Page 7 of 7

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