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The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts:         5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units                             18th March: 150 units 30th March: 100 units Use the above information and answer 32, 33 and 34 MCQs  1-Identify the total number of units received during the month of March 2021 for Al Reem Manufacturing LLC. a. 320 units b. 220 units c. 280 units d. 450 units 2-Identify the total number of units on 12th March 2021 for Al Reem Manufacturing LLC. a. 280 units b. 320 units c. 450 units d. 220 units 3-Identify the total receipts amount for the month of March 2021 for Al Reem Manufacturing LLC. a. RO 1,285 b. RO 1,480 c. RO 765 d. RO 1,850

The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing: 1st March 2021: Opening balance – 50 units @ RO 4 Receipts:         5th March: 100 units @ RO 5 12th March: 200 units @ RO 4.50 24th March: 150 units @ RO 3 Issues: 2nd March: 30 units                             18th March: 150 units 30th March: 100 units Use the above information and answer 32, 33 and 34 MCQs  1-Identify the total number of units received during the month of March 2021 for Al Reem Manufacturing LLC. a. 320 units b. 220 units c. 280 units d. 450 units 2-Identify the total number of units on 12th March 2021 for Al Reem Manufacturing LLC. a. 280 units b. 320 units c. 450 units d. 220 units 3-Identify the total receipts amount for the month of March 2021 for Al Reem Manufacturing LLC. a. RO 1,285 b. RO 1,480 c. RO 765 d. RO 1,850

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following information is taken from the financial statement of Al Reem Manufacturing LLC for the month of March 2021, the company follows FIFO method for material issue pricing:

1st March 2021: Opening balance – 50 units @ RO 4

Receipts:        

5th March: 100 units @ RO 5

12th March: 200 units @ RO 4.50

24th March: 150 units @ RO 3

Issues:

2nd March: 30 units                            

18th March: 150 units

30th March: 100 units

Use the above information and answer 32, 33 and 34 MCQs 

1-Identify the total number of units received during the month of March 2021 for Al Reem Manufacturing LLC.

a.
320 units
b.
220 units
c.
280 units
d.
450 units
2-Identify the total number of units on 12th March 2021 for Al Reem Manufacturing LLC.
a.
280 units
b.
320 units
c.
450 units
d.
220 units
3-Identify the total receipts amount for the month of March 2021 for Al Reem Manufacturing LLC.
a.
RO 1,285
b.
RO 1,480
c.
RO 765
d.
RO 1,850
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