Accounting Grade 12 P2 NSC November 2020 Addendum (English)

Downloaded from hlayiso.com STICKER CENTRE NUMBER EXAMINATION NUMBER NATIONAL SENIOR CERTIFICATE ACCOUNTING P2 GRADE 12 NOVEMBER 2020(2) SPECIAL ANSWER BOOK QUESTION MARKS INITIAL MOD. 1 2 3 4 TOTAL This answer book consists of 10 pages. Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 2 DBE/November 2020(2) NSC – Answer Book QUESTION 1 1.1 VAT 1.1.1 Workings Answer (a) (b) (c) (d) 9 1.1.2 Comment on this practice and give Amahle advice. Comment Advice 3 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 3 DBE/November 2020(2) NSC – Answer Book 1.2 CREDITORS' RECONCILIATION 1.2.1 Creditors' Ledger Statement Account of Thembeka of Account from Suppliers in the Thembeka Suppliers Books of Ekasi Traders Balance 117 200 157 400 (a) (b) (c) (d) (e) (f) 9 1.2.2 What should the owner say to Bradley regarding this incident? Explain TWO points. 4 TOTAL MARKS 25 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 4 DBE/November 2020(2) NSC – Answer Book QUESTION 2 2.1 PERFECT FIT MANUFACTURERS 2.1.1 PRODUCTION COST STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2021 Direct material cost Prime cost 2 550 000 Factory overhead cost Total manufacturing cost Work-in-progress (end) Total cost of production 14 2.1.2 Calculate: Gross profit earned on sale of shirts. Workings Answer 5 Calculate: Mark-up % achieved on shirts Workings Answer 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 5 DBE/November 2020(2) NSC – Answer Book 2.2 LEATHER MANUFACTURERS PURSES: 2.2.1 Calculate the break-even point for purses for the year ended 28 February 2021. Workings Answer 4 2.2.2 Comment on the level of production achieved and the break-even point for purses for 2021. Quote figures. 4 2.2.3 Apart from inflation and wage increases, give TWO other possible reasons for the increase in the direct labour cost per unit for purses. 4 2.2.4 Give TWO reasons for the decrease in the direct material cost per unit for purses. 2 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 6 DBE/November 2020(2) NSC – Answer Book JACKETS: 2.2.5 Explain why the direct material cost per unit for jackets would probably increase if raw material were imported. State TWO points. 2 Provide figures to prove that Tello was correct about the effect this decision would have on the cost of the jackets. 2 2.2.6 Calculate the % increase in the selling price of the jackets. Workings Answer 3 2.2.7 Explain the impact of the increase in the selling price of jackets on the sales and profit. Quote figures or calculations. 4 2.2.8 Tello wants to increase profits on jackets by an additional R250 000 in the next financial year. Assuming the cost structure remains the same, calculate the total number of additional units he must produce to achieve this target. Workings Answer 4 TOTAL MARKS 50 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 7 DBE/November 2020(2) NSC – Answer Book QUESTION 3 3.1 DEBTORS' COLLECTION SCHEDULE FOR MARCH TO MAY 2021 CREDIT SALES MARCH APRIL MAY MONTHS R R R R January 204 750 16 380 February 250 250 125 125 20 020 March 364 000 136 864 182 000 April 409 500 153 972 May 278 369 335 992 9 3.2 AMOUNTS FOR CASH BUDGET Workings Amount (a) Cash sales for April (b) Increase in loan from Janet Bloom (c) Salaries for April 2021 (d) Rent expense for March 2021 14 3.3 Explain the decisions that the directors took regarding the budgeted and actual expenditure for advertising in May 2021. Quote figures or calculations. 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 8 DBE/November 2020(2) NSC – Answer Book The directors ask you for a report on the effect that the advertising decisions have actually had on customers and sales in May 2021. Provide TWO points that you would include in your report. Quote figures or calculations. 4 Explain how the decline in the national economy has affected the average amount that customers spent in May 2021. Quote figures. 3 Comment on whether the consumable stores have been well controlled or not. Quote figures or calculations. 3 3.4 Calculate the reduction in the area rented (in square metres). Workings Answer 4 TOTAL MARKS 40 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 9 DBE/November 2020(2) NSC – Answer Book QUESTION 4 4.1 4.1.1 4.1.2 4.1.3 4.1.4 4 4.2 LOTUS ACCESSORIES 4.2.1 Calculate: Value of closing stock for gas lamps (using FIFO) Workings Answer 6 Calculate: Stockholding period in days for gas lamps (using closing stock) Workings Answer 6 4.2.2 Alex suspects that the stock of gas lamps are not well controlled. Calculate the number of gas lamps missing. Workings Answer 4 4.2.3 What should Alex say to his brother when dealing with this matter? Provide TWO points. 4 Copyright reserved Please turn over

Downloaded from hlayiso.com Accounting/P2 10 DBE/November 2020(2) NSC – Answer Book 4.2.4 Calculate the closing stock value for gas stoves on 30 April 2021 (using the specific identification method). Workings Answer 5 c 4.2.5 Alex thinks he should stop selling gas stoves as they are causing a liquidity problem and the profit is low. Provide figures to support his opinion. 2 Explain TWO points to convince him NOT to discontinue trading in gas stoves. 4 TOTAL MARKS 35 TOTAL: 150 Copyright reserved