Calculate the selling price of a human wig with a 50% markup, and the discount on cash sales of R5500 at 2.5%. Also, determine if a refund is possible from SARS.

The cost of each human wig is R900.
The business's profit mark-up is 50%.
The selling price is calculated by adding the mark-up to the cost price.

$$\text{Mark-up amount} = \text{Cost price} \times \text{Mark-up percentage}$$ $$\text{Mark-up amount} = \text{R}900 \times 0.50$$ $$\text{Mark-up amount} = \text{R}450$$ $$\text{Selling price} = \text{Cost price} + \text{Mark-up amount}$$ $$\text{Selling price} = \text{R}900 + \text{R}450$$ $$\text{Selling price} = \text{R}1350$$ $$\boxed{\text{R}1350}$$

Cash sales in February 2024 amounted to R5 500.
The discount granted is 2.5% on all cash sales.

$$\text{Discount amount} = \text{Cash sales} \times \text{Discount percentage}$$ $$\text{Discount amount} = \text{R}5500 \times 0.025$$ $$\text{Discount amount} = \text{R}137.50$$ $$\boxed{\text{R}137.50}$$

The amount received is the cash sales less the discount amount.

$$\text{Amount received} = \text{Cash sales} - \text{Discount amount}$$ $$\text{Amount received} = \text{R}5500 - \text{R}137.50$$ $$\text{Amount received} = \text{R}5362.50$$ $$\boxed{\text{R}5362.50}$$

Yes, it is possible for Carly's Hair Trading to get a refund from SARS, provided the business is registered as a VAT vendor. As a VAT vendor, Carly's Hair Trading would pay input VAT on purchases from suppliers like ATP Cash and Carry. If the input VAT paid exceeds the output VAT collected on its own sales, SARS would owe Carly's Hair Trading a refund.

$$\boxed{\text{Yes, if Carly's Hair Trading is a registered VAT vendor.}}$$

The total sales amount is R9 000, VAT inclusive.
The standard VAT rate in South Africa is 15%.
To find the sales excluding VAT, divide the VAT inclusive amount by $(1 + \text{VAT rate})$.

$$\text{Sales excluding VAT} = \frac{\text{VAT inclusive amount}}{1 + \text{VAT rate}}$$ $$\text{Sales excluding VAT} = \frac{\text{R}9000}{1 + 0.15}$$ $$\text{Sales excluding VAT} = \frac{\text{R}9000}{1.15}$$ $$\text{Sales excluding VAT} \approx \text{R}7826.0869$$

Rounding off to the nearest rand:

$$\text{Sales excluding VAT} = \text{R}7826$$ $$\boxed{\text{R}7826}$$

VAT on sales can be calculated by subtracting the sales excluding VAT from the VAT inclusive amount.

$$\text{VAT on sales} = \text{VAT inclusive amount} - \text{Sales excluding VAT}$$ $$\text{VAT on sales} = \text{R}9000 - \text{R}7826$$ $$\text{VAT on sales} = \text{R}1174$$ $$\boxed{\text{R}1174}$$