Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a.  Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received   Issued   Balance Receiving Report Number Quantity Unit Price   Materials Requisition Number Quantity Amount   Date Quantity Unit price Amount                 May 1 360 $6 $2,160 21 250 $8           May 4 fill in the blank 77c1e905afbc076_1 fill in the blank 77c1e905afbc076_2 fill in the blank 77c1e905afbc076_3                   fill in the blank 77c1e905afbc076_4 fill in the blank 77c1e905afbc076_5 fill in the blank 77c1e905afbc076_6         102 410 $fill in the blank 77c1e905afbc076_7   May 10 fill in the blank 77c1e905afbc076_8 fill in the blank 77c1e905afbc076_9 fill in the blank 77c1e905afbc076_10 27 170 10           May 21 fill in the blank 77c1e905afbc076_11 fill in the blank 77c1e905afbc076_12 fill in the blank 77c1e905afbc076_13                   fill in the blank 77c1e905afbc076_14 fill in the blank 77c1e905afbc076_15 fill in the blank 77c1e905afbc076_16         115 240 fill in the blank 77c1e905afbc076_17   May 27 fill in the blank 77c1e905afbc076_18 fill in the blank 77c1e905afbc076_19 fill in the blank 77c1e905afbc076_20     Feedback   b.  Determine the materials inventory balance at the end of May. $fill in the blank c0a84bfa6fe2fb0_1     Feedback   c.  Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank.     - Select - - Select -     - Select - - Select -

Cost of materials issuances under the FIF0 method Instructions Chart of Accounts Materials Inventory Journal Final Question Instructions X. An incomplete subsidiary ledger of materials inventory for May is as follows: RECEIVED ISSUED BALANCE Receiving Materials Report Unit Requisition Unit Number Quantity Price Number Quantity Amount Date Quantity Price Amount May 1 284 $30.00 $8,520 139 $32.90 May 4 91 373 May 10 44 117 38.80 May 21 97 100 May 27 Required: A. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Round your unit price answers to two decimal places and final answers to the nearest dollar. B. Determine the materials inventory balance at the end of May. Round your answer to the nearest dollar. C. Journalize the summary entry on May 31 to transfer materials to work in process. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to the nearest dollar. D. Explain how the materials ledger might be used…

Alpesh

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ACCT 102 - Subparts d e f

Please complete the Income statement   Calculation of Direct Materials Used         (Analyze Raw Materials Account)                   Beginning Raw Materials Inventory 2,373.75       Plus: Purchases of Direct Materials, Freight-in, Duties 26111.25       Materials Available for Use 28485       Less: Ending Raw Materials Inventory 18,041.32 <<<To balance sheet Direct Materials Used 10443.68                 Calculation of Cost of Goods Manufactured         (Analyze WIP Inventory)                   Beginning WIP Inventory 0       Plus Manufacturing Costs Incurred: 355,428.68       Direct Materials Used 10443.68       Direct Labor 135,000.00       Manufacturing Overhead 191,943.68       Total Manufacturing Costs to Account For 337,387.36       Less: Ending WIP Inventory 18,041.32 <<<To balance sheet Cost of Goods Manufactured 319346.04                 Calculation of Cost of Goods Sold         (Analyze Finished Goods Inventory)…

ok ences QS 14-12 (Algo) Preparing a balance sheet LO P1 Prepare the current assets section of the balance sheet at December 31 for Bin Manufacturing using the following information. Hint Not all information given is needed for the solution. Cash Accounts payable Raw materials inventory General and administrative expenses Accounts receivable, net Selling expenses Finished goods inventory Work in process inventory Prepaid insurance Cost of goods sold BIN MANUFACTURING Current Assets Section of the Balance Sheet December 31 Total current assets $ 22,100 2,100 8,100 42, 100 12, 100 12, 100 22, 100 18, 100 4,100 33, 100

PAS. LO 4.5 Complete the information in the cost computations shown here: Raw Materials Work in Pracess nventory $ 342 S 92 Beginning imventory Purchases Materials avalable for use Ending inentory Beginning inventory Materials used in production Drect labor 1,533 1,535 Overhead applied Manufacturing costs incurred Ending inventory 321 22441 Materials used in production Cost of Geods Marufactured Finished Goods Inventory Beginning inventory Coot of Goeds Mandactured Goods Available for Sale Ending inventory Cost of Goods Sold $25,002 21.788 ANSWER Raw Materials Beginning inventory Purchases Material available for use Ending inventey Materials used in production Work in Process Iaventory Beginning inventory Materials used in production Direct labor Overhead applied Manufacturing costs incurred Ending inventory Cast of goods manufactured Finished Goods Iaventory Beginning inventory Cast of goods manufactured Goods available for sale Ending inventory Cost of goods sold