A company makes production by using Y raw material. The movements of this Y material within the month of April are as follows: (a) April 1, Beginning balance, amount: 8.000 kg, unit price: 20 TL/kg, (b) April 5, Purchase, amount: 12.000 kg, unit price: 25 TL/kg, (c) April 10, Consumption, amount: 10.000 kg, (d) April 15, Purchase, amount: 5.000 kg, unit price: 26 TL/kg, (e) April 20, Consumption, amount: 12.000 kg, (f) April 25, Purchase, amount: 15.000 kg, unit price: 22,20 TL/kg, (g) April 30, Consumption, amount: 8.000 kg. Apply the weighted average method now. What would be the ending raw material balance at the end of April? What would be the appropriate journal entry for the TOTAL cost of consumption at the end of April if the company employs LIFO? O Debit 701.000 TL Direct Material Cost, Credit 701.000 TL Raw Material Debit 215.400 TL Direct Material Cost, Credit 215.400 TL Raw Material Debit 698.000 TL Direct Material Cost, Credit 698.000 TL Raw Material O Debit 707.600 TL Direct Material Cost, Credit 707.600 TL Raw Material

A company makes production by using Y raw material. The movements of this Y material within the month of April are as follows: (a) April 1, Beginning balance, amount: 8.000 kg, unit price: 20 TL/kg, (b) April 5, Purchase, amount: 12.000 kg, unit price: 25 TL/kg, (c) April 10, Consumption, amount: 10.000 kg, (d) April 15, Purchase, amount: 5.000 kg, unit price: 26 TL/kg, (e) April 20, Consumption, amount: 12.000 kg, (f) April 25, Purchase, amount: 15.000 kg, unit price: 22,20 TL/kg, (g) April 30, Consumption, amount: 8.000 kg. Apply the weighted average method now. What would be the ending raw material balance at the end of April? What would be the appropriate journal entry for the TOTAL cost of consumption at the end of April if the company employs LIFO? O Debit 701.000 TL Direct Material Cost, Credit 701.000 TL Raw Material Debit 215.400 TL Direct Material Cost, Credit 215.400 TL Raw Material Debit 698.000 TL Direct Material Cost, Credit 698.000 TL Raw Material O Debit 707.600 TL Direct Material Cost, Credit 707.600 TL Raw Material

Name: A company makes production by using Y raw material. The movements of
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Description: A company makes production by using Y raw material. The movements of this Y material within themonth of April are as follows: (a) April 1, Beginning balance, amount: 8.000 kg, unit price: 20 TL/kg,(b) April 5, Purchase, amount: 12.000 kg, unit price

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter9: Working Capital

Section: Chapter Questions

Problem 27E

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