The Jordan Corporation uses Raw Material A in a manufacturing process. Information as tobalances on hand, purchases, and requisitions of Raw Material A is given in the following table.Raw Material ATransaction Number ofUnitsBalance ofUnitsUnit PriceDateJan. 1Beginning balance100$1.45100Jan. 24Purchased300$1.55400Feb. 8Issued80320Mar. 16Issued140180Jun. 11Purchased150$1.62330Aug. 18Sep. 6Oct. 15Issued130200Issued11090Purchased150$1.70240Dec. 29Issued140100If a perpetual inventory record of Raw Material A is maintained on a moving average basis, the140 units issued on March 16 will have a unit cost of (round to 3 decimal places):

A perpetual inventory system is a system of recording the transactions for inventory immediately at…

The Jordan Corporation uses Raw Material A in a manufacturing process. Information as to balances on hand, purchases, and requisitions of Raw Material A is given in the following table. Raw Material A Transaction Number of Units 100 Balance of Units Unit Price Date Beginning balance $1.45 100 Jan. 1 Jan. 24 Feb. 8 Mar. 16 Purchased 300 $1.55 400 Issued 80 320 Issued 140 180 Jun. 11 Purchased 150 $1.62 330 Aug. 18 Sep. 6 Oct. 15 Issued 130 200 Issued 110 90 Purchased 150 $1.70 240 Dec. 29 Issued 140 100 If a perpetual inventory record of Raw Material A is maintained on a moving average basis, the 140 units issued on March 16 will have a unit cost of (round to 3 decimal places):

The Jordan Corporation uses Raw Material A in a manufacturing process. Information as to balances on hand, purchases, and requisitions of Raw Material A is given in the following table. Raw Material A Transaction Number of Units 100 Balance of Units Unit Price Date Beginning balance $1.45 100 Jan. 1 Jan. 24 Feb. 8 Mar. 16 Purchased 300 $1.55 400 Issued 80 320 Issued 140 180 Jun. 11 Purchased 150 $1.62 330 Aug. 18 Sep. 6 Oct. 15 Issued 130 200 Issued 110 90 Purchased 150 $1.70 240 Dec. 29 Issued 140 100 If a perpetual inventory record of Raw Material A is maintained on a moving average basis, the 140 units issued on March 16 will have a unit cost of (round to 3 decimal places):

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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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 Materials Receiving Report Number Requisition Number 25 31 Received Quantity 210 d. Comparing 140 Received Unit Price $11 13 106 119 b. Determine the materials inventory balance at the end of May. Issued Quantity 340 200 Issued Amount 0 Balance Date May 1 May 4 May 10 May 21 May 27 Balance Quantity 300 000000-*** Balance c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. price Balance 10000⁰0 Amount $2,700 es reported in the materials ledger with predetermined order points would enable management to order materials before (4) causes idle time
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…
Complete the information in the cost computations shown here: Raw materials Beginning inventory Purchases Materials available for use Ending inventory Materials used in production Work in process inventory Beginning inventory Materials used in production Direct labor Overhead applied Manufacturing costs incurred Ending inventory Cost of goods manufactured Finished goods inventory Beginning inventory Cost of goods manufactured Goods available for sale Ending inventory Cost of goods sold $341 1,533 323 $931 1,536 $22,450 936 $25,008 $21,792
Umbria, Inc. has compiled the following data: View the data. Compute the amount of direct materials used. I = Direct Materials Used Data Purchases of Direct Materials Freight In Property Taxes Ending Direct Materials Beginning Direct Materials Print Done O $ 6,600 800 1,400 1,600 4,400 X
*need help with C please *
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