Bravo Wire Enterprises is a manufacturer of electrical conductors. The following incomplete subsidiary ledger is for wire cable during July: a. Complete the materials issuances and balances for the wire cable subsidiary ledger. Assume a first-in, first-out cost flow. Received Receiving Issued Materials Report Number Received Received Quantity Unit Price Requisition Number Issued Issued Balance Quantity Amount Date Balance Quantity Balance Amount Balance Unit Price July 1 125 $750 $ 6.00 309 200 $7.00 July 5 7401 240 July 10 422 400 $8.00 July 20 7639 325 July 26 b. Determine the balance of wire cable at the end of July. c. Determine the total amount of materials transferred to Work in Process for July.

Bravo Wire Enterprises is a manufacturer of electrical conductors. The following incomplete subsidiary ledger is for wire cable during July: a. Complete the materials issuances and balances for the wire cable subsidiary ledger. Assume a first-in, first-out cost flow. Received Receiving Issued Materials Report Number Received Received Quantity Unit Price Requisition Number Issued Issued Balance Quantity Amount Date Balance Quantity Balance Amount Balance Unit Price July 1 125 $750 $ 6.00 309 200 $7.00 July 5 7401 240 July 10 422 400 $8.00 July 20 7639 325 July 26 b. Determine the balance of wire cable at the end of July. c. Determine the total amount of materials transferred to Work in Process for July.

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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