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QUESTION 1 The following information regarding the purchases and issues to production or component J for a project of Kia Limited during April 2020 is available: Purchases April Units Total invoice price 01 13 000 R91 000 10 15 000 R120 000 20 14 000 R126 000 Issues to production April Units 05 8 000 9 000 15 25 13 000 Refer to the information provided above and answer the following questions: 1.1.1 Use the first-in-first-out (FIFO) method to complete the following table for the transactions provided below. Purchases Issues Balance Date QuantityPrice Amount Quantity PriceAmount Quantity Price Amount 1.12 Use the weighted average cost method to complete the above table for the transactions up to 15 April 2020 only. Where applicable, round off the weighted Rand cost per

QUESTION 1 The following information regarding the purchases and issues to production or component J for a project of Kia Limited during April 2020 is available: Purchases April Units Total invoice price 01 13 000 R91 000 10 15 000 R120 000 20 14 000 R126 000 Issues to production April Units 05 8 000 9 000 15 25 13 000 Refer to the information provided above and answer the following questions: 1.1.1 Use the first-in-first-out (FIFO) method to complete the following table for the transactions provided below. Purchases Issues Balance Date QuantityPrice Amount Quantity PriceAmount Quantity Price Amount 1.12 Use the weighted average cost method to complete the above table for the transactions up to 15 April 2020 only. Where applicable, round off the weighted Rand cost per

Quickbooks Online Accounting
Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter3: Setting Up A New Company
Section: Chapter Questions
Problem 3.4C
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Please answer questions 1.1.2 and 1.2 only
QUESTION 1 The following information regarding the purchases and issues production or component J for a project of Kia Limited during April 2020 is available: Purchases April Units Total invoice 01 13 000 R91 000 10 15 000 R120 000 20 14 000 R126 000 Issues to production April Units 05 8 000 9 000 15 25 13 000 Refer to the information provided above and answer the following questions: 1.1.1 Use the first-in-first-out (FIFO) method to complete the following table for the transactions provided below Purchases Issues Balance Date Quantity Price Amount Quantity Price Amount Quantity Price Amount 1.12 Use the weighted average cost method to complete the above table for the transactions up to 15 April 2020 only. Where applicable, round off the weighted average cost per unit to the nearest cent and other amounts to the nearest Rand.
Transcribed Image Text:QUESTION 1 The following information regarding the purchases and issues production or component J for a project of Kia Limited during April 2020 is available: Purchases April Units Total invoice 01 13 000 R91 000 10 15 000 R120 000 20 14 000 R126 000 Issues to production April Units 05 8 000 9 000 15 25 13 000 Refer to the information provided above and answer the following questions: 1.1.1 Use the first-in-first-out (FIFO) method to complete the following table for the transactions provided below Purchases Issues Balance Date Quantity Price Amount Quantity Price Amount Quantity Price Amount 1.12 Use the weighted average cost method to complete the above table for the transactions up to 15 April 2020 only. Where applicable, round off the weighted average cost per unit to the nearest cent and other amounts to the nearest Rand.
1.2 Otta Wholesalers expects to sell 15 500 cases of soft drinks during 2020. The cost of placing an order is estimated to be R40. The inventory holding cost of one case of soft drink is R4. REQUIRED: Calculate the economic order quantity (EOQ) of soft drinks for 2020.
Transcribed Image Text:1.2 Otta Wholesalers expects to sell 15 500 cases of soft drinks during 2020. The cost of placing an order is estimated to be R40. The inventory holding cost of one case of soft drink is R4. REQUIRED: Calculate the economic order quantity (EOQ) of soft drinks for 2020.
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