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 Fito Received Issued Materials Receiving Report Number 25 Received Quantity 210 d. Comparing 140 Received Unit Price $11 13 Requisition Number. 106 119 b. Determine the materials inventory balance at the end of May Issued Quantity 340 200 Issued Amount Balance Date May 1 May & May 10 May 21 May 27 11000000 Balance Quantity e. Journalue the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it bank Balance Unit price 19 Balance Amount $2,700 es reported in the materials ledger with predetermined order points would enable management to order materials before a) causes de time

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 Fito Received Issued Materials Receiving Report Number 25 Received Quantity 210 d. Comparing 140 Received Unit Price $11 13 Requisition Number. 106 119 b. Determine the materials inventory balance at the end of May Issued Quantity 340 200 Issued Amount Balance Date May 1 May & May 10 May 21 May 27 11000000 Balance Quantity e. Journalue the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it bank Balance Unit price 19 Balance Amount $2,700 es reported in the materials ledger with predetermined order points would enable management to order materials before a) causes de time

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Description: Cost of Materials Issuances Under the FIFO MethodAn incomplete subsidiary ledger of materials inventory for May is as follows:a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFOReceivedIssuedMaterialsRecei

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter2: Job Order Costing

Section: Chapter Questions

Problem 3E: Cost of materials issuances under the FIFO method An incomplete subsidiary ledger of materials...

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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 Receiving Received Report Number Received Quantity Unit Price Issued Materials Requisition Number Balance Issued Quantity Issued Balance Balance Unit Balance Amount Date Quantity price Amount May 1 260 $9 $2,340 25 180 $11 May 4 260 9 2,340 180 11 1,980 103 290 May 10 11 31 120 13 May 21 116 170 May 27 b. Determine the materials inventory balance at the end of May.
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: Question Content Area a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Balance ReceivingReportNumber Quantity UnitPrice MaterialsRequisitionNumber Quantity Amount Date Quantity Unitprice Amount May 1 220 $5 $1,100 24 150 $7 May 4 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank 100 250 fill in the blank May 10 fill in the blank fill in the blank fill in the blank 30 100 9 May 21 fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank fill in the blank 113 150 fill in the blank May 27 fill in the blank fill in the blank fill in the blank Question Content Area b.…
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 Materials Unit Unit Report Quantity Requisition Quantity Amount Date Quantity Amount Price price Number Number May 1 270 $8 $2,160 $10 2,160 V 25 190 May 4 270 8 190 1,900 V 10 4,060 x 460 X 4,060 X 102 310 May 10 10 31 130 12 May 21 460 x 10 1,560 X 130 12 1,560 V 115 180 1,380 X May 27 180 X 12 1,560 x
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ilrn/takeAssignment/takeAssignmentMain.do?invoker%-&takeAssignmentSessionLocator3&inprogress%3false ps 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 Materials Unit Report Quantity Requisition Quantity Date Unit Price Amount Quantity Amount Number Number price May 1 250 $5 $1,250 21 180 $7 May 4 102 280 $4 May 10 27 120 May 21 115 170 May 27 b. Determine the materials inventory balance at the end of May. c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Previous Next
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