PDF National Senior Certificate Accounting Grade 12 November 2018
STICKER CENTRE NUMBER EXAMINATION NUMBER
NATIONAL SENIOR CERTIFICATE ACCOUNTING GRADE 12
NOVEMBER 2018
QUESTION 1 2 3 4 5 6
TOTAL
SPECIAL ANSWER BOOK
MARKS
INITIAL
MOD.
This answer book consists of 17 pages.
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Accounting
QUESTION 1
1.1
1.1.1
1.1.2
1.1.3
2 NSC ? Answer Book
1.2 KRIGE SHIRTS 1.2.1 Calculate direct labour cost.
DBE/November 2018
3
9
1.2.2
PRODUCTION COST 31 JULY 2018
Direct material cost
STATEMENT
FOR
THE
YEAR ENDED 528 300
Prime cost
Total production cost Work-in-progress (1 August 2017)
Cost of production of finished goods
12
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Accounting
3 NSC ? Answer Book
DBE/November 2018
1.3 GEMMA'S MANUFACTURERS 1.3.1 Calculate the break-even point for the year ended 31 August 2018.
5
1.3.2 Compare and comment on the break-even point and the production level achieved over the last two years. Quote figures.
6
1.3.3 Give TWO reasons for the increase in direct material cost. Suggest ONE way to control this cost. REASONS:
SUGGESTION:
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TOTAL MARKS 40
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Accounting
4 NSC ? Answer Book
DBE/November 2018
QUESTION 2 2.1 VAT 2.1.1
(a) (b) (c) (d)
WORKINGS
ANSWER 10
2.1.2
You are the internal auditor. The sole owner, Samson, used a business cheque to buy a new car for R460 000 including VAT. This car is kept at home for his wife's use. Samson says the vehicle must be recorded as a business asset and R60 000 must be recorded as a VAT input in the business' books.
Explain what you would say to Samson. Provide TWO points.
Point 1
Point 2 4
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5 NSC ? Answer Book
2.2 CREDITORS' RECONCILIATION
2.2.1
Balance
CREDITORS' LEDGER: ACCOUNT OF MARITI
SUPPLIERS
147 820
(a)
(b)
(c)
(d)
(e)
(f)
DBE/November 2018
STATEMENT OF ACCOUNT 145 060
13
2.2.2 The internal auditor insists that direct payments (EFTs) must be used to pay suppliers. Explain ONE reason to support his decision.
2 Explain ONE internal procedure to ensure control over this system.
2
2.2.3 Besides dismissing Vernon, provide ONE suggestion for action to be taken against him.
Provide ONE suggestion to prevent this problem in future. 4
TOTAL MARKS 35
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