Answered

1.2 A grade 11 learner, Mcdustin, advised Moses to track how he uses money by drawing an income and expenditure statement for August 2023. Below is an income and expenditure statement for the month of August 2023.

\begin{tabular}{|l|l|l|}
\hline & INCOME & EXPENSES \\
\hline Basic Salary & R9 400,00 & \\
\hline \begin{tabular}{l}
Commission from all his \\
sales in August.
\end{tabular} & R 500,00 & \\
\hline Rent & & R 2 500,00 \\
\hline Groceries & & R 2 368,85 \\
\hline Cosmetics & & R 762,00 \\
\hline Electricity & & R 180,75 \\
\hline Car repayment & & R 999,00 \\
\hline Petrol & & R 845,45 \\
\hline Insurance & & R 347,00 \\
\hline Entertainment & & R 1 132,85 \\
\hline Cell phone & & R 435,25 \\
\hline Magazine subscription & & R 225,00 \\
\hline Medical aid contribution & & R 675,00 \\
\hline Clothing & & R 230,00 \\
\hline TOTAL & & R 10 701,15 \\
\hline
\end{tabular}

Use the information in the table above to answer the questions that follow:

1.2.1 Calculate Mr. Moses's total income for the month of August. (2)

1.2.2 List two of his fixed expenses. (2)

1.2.3 List two items on which Mr. Moses could reduce spending in order to afford his son's pocket money. (2)

---

(Note: The following text and additional unrelated elements like "3 P.T.O" and "Samsung Galaxy A04e" were removed as they do not form part of the question.)



Answer :

GinnyAnswer
Sure, let's address each of the questions step-by-step, using the information provided:

### 1.2.1 Calculate Mr. Moses's total income for the month of August

Mr. Moses’s total income consists of his basic salary and commission from all his sales in August.

- Basic Salary: R9400.00
- Commission: R500.00

To find the total income, we add the basic salary and the commission:
[tex]\[ \text{Total Income} = \text{Basic Salary} + \text{Commission} \][/tex]
[tex]\[ \text{Total Income} = R9400.00 + R500.00 \][/tex]
[tex]\[ \text{Total Income} = R9900.00 \][/tex]

Therefore, Mr. Moses’s total income for the month of August is R9900.00.

### 1.2.2 List two of his fixed expenses

Fixed expenses are consistent and recurring payments that Mr. Moses has to make every month. From the provided data, two clear examples of fixed expenses are:

- Rent: R2500.00
- Car repayment: R999.00

Therefore, two of Mr. Moses's fixed expenses are:
- Rent: R2500.00
- Car repayment: R999.00

### 1.2.3 List two items on which Mr. Moses could reduce in order to afford his son’s pocket money

To manage his budget better, Mr. Moses could consider reducing expenses that are more flexible, such as:

- Entertainment: R1132.85
- Groceries: R2368.85

These expenses are more variable and allow room for adjustment. By reducing spending on entertainment and groceries, Mr. Moses could free up funds for other needs, such as his son’s pocket money.

To summarize:
- Mr. Moses’s total income for August is R9900.00.
- Two fixed expenses are Rent (R2500.00) and Car repayment (R999.00).
- Two items on which Mr. Moses could reduce spending are Entertainment (R1132.85) and Groceries (R2368.85).

Other Questions