6. Assuming that the company used a perpetual inventory system, the total quantity and cost of materials purchased for the month of April should be: a. 700 units at P 5,800 b. 700 units at P 5,810 c. 700 units at P 5,400 d. 700 units at P 6,200

6. Assuming that the company used a perpetual inventory system, the total quantity and cost of materials purchased for the month of April should be: a. 700 units at P 5,800 b. 700 units at P 5,810 c. 700 units at P 5,400 d. 700 units at P 6,200

Name: The following data on materials purchases and issues during the month
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Description: The following data on materials purchases and issues during the month of April werereported:April IBeginning balanceReceivedReceived400 units at P6100 units at P751113100 units at P8400 unitsIssued15Received200 units at P622Issued250 units50 units30

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

Topic Video

Question

The following data on materials purchases and issues during the month of April were
reported:
April I
Beginning balance
Received
Received
400 units at P6
100 units at P7
5
11
13
100 units at P8
400 units
Issued
15
Received
200 units at P6
22
Issued
250 units
50 units
300 units at P9
27
Returned from factory
30
Received
6. Assuming that the company used a perpetual inventory system, the total quantity
and cost of materials purchased for the month of April should be:
a. 700 units at P 5,800
b. 700 units at P 5,810
c. 700 units at P 5,400
d. 700 units at P 6,200

One of the products that Ram Breakfast Foods manufactures is carrot juice. Ram
manufactures and sells 5.000 cases of carrot juice evenly each year. Variable
manufacturing costs are P 4.50 per case. It costs Ram P 3.60 to setup a production run
for carrot juice. It also costs Ram P 2.50 per year to carry a case of carrot juice in
inventory
11. What is Ram's economic production run size?
83 cases
85 cases
с. 120 сases
d. 150 cases
a.
b.

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