Susan Mbaya is an employee of Mauzo Ltd. She has provided the following details pertaining to her income in the year of income 2021:
i) Her monthly basic salary was sh. 105,000 (PAYE sh. 21,000 per month)
ii) She was provided with a house by the company. The rental Market value was sh.
35,000 per month. The house was fully furnished and the cost of the furniture was
sh. 800,000.
iii) She was provided with free airtime of sh.10,000 for her cellphone
iv) She obtained a Life insurance policy of sh 1,000,000, where the company paid sh
40,000 per month to the insurance company
v) She was paying owner occupier interest of sh 600,000 on a mortgage loan she took
to build her own home
vi) She received a bonus allowance of sh. 180,000 in that year for working extra time.
vii) She was provided with a company car of 2500cc. The car was purchased by the
company for sh 2,092,000 on 1st
January 2019.
viii) She is a member of a registered pension scheme where she contributed sh. 18,000
per month towards the scheme
ix) She received a year end bonus payable to executive staff of sh. 120,000
x) The employer reimbursed (refunded) her, all medical expenses she incurred during
the year, amounting to sh. 365,400. The company’s medical scheme covers all staff
members.
xi) She spent sh 20,000 of her own money in the service of her employer and she has
maintained receipts of these payments. However, her employer only refunded her
sh. 5,000
Required
Taxable income of Susan Mbaya for the year of income ended 31st December 2021 and the Tax
payable ( if any ) on the income computed

“wonderful! not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well,” said kim clark, president of martell company. “our $11,150 overall manufacturing cost variance is only 3% of the $1,536,000 standard cost of products made during the year. that’s well within the 3% parameter set by management for acceptable variances. it looks like everyone will be in line for a bonus this year.” the company produces and sells a single product. the standard cost card for the product follows: standard cost card—per unit direct materials, 4.00 feet at $4.00 per foot $ 16.00 direct labor, 1.1 direct labor-hours at $13 per direct labor-hour 14.30 variable overhead, 1.1 direct labor-hours at $2.40 per direct labor-hour 2.64 fixed overhead, 1.1 direct labor-hours at $6.50 per direct labor-hour 7.15 standard cost per unit $ 40.09the following additional information is available for the year just completed: a. the company manufactured 20,000 units of product during the year. b. a total of 77,000 feet of material was purchased during the year at a cost of $4.25 per foot. all of this material was used to manufacture the 20,000 units. there were no beginning or ending inventories for the year. c. the company worked 24,000 direct labor-hours during the year at a direct labor cost of $12.50 per hour. d. overhead is applied to products on the basis of standard direct labor-hours. data relating to manufacturing overhead costs follow: denominator activity level (direct labor-hours) 19,000 budgeted fixed overhead costs $ 123,500 actual variable overhead costs incurred $ 64,800 actual fixed overhead costs incurred $ 120,900required: 1. compute the materials price and quantity variances for the year. (round standard price and actual price to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i. e., zero 2. compute the labor rate and efficiency variances for the year. (round standard rate and actual rate to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i. e., zero 3. for manufacturing overhead compute: a. the variable overhead rate and efficiency variances for the year. (round standard rate and actual rate to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i. e., zero b. the fixed overhead budget and volume variances for the year. (indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i. e., zero

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