10. The Regal Blue company has a standard costing system. In June, the standard quantity of direct materialspurchased was 35,000 pounds at a standard price of S4/lb. The material price variance was $7,000, unfavorablewhile the material quantity variance was $4,200, favorable. Therefore, the actual price per pound of the directmaterials purchased in June was:a. $3.92b. $4.32c. $3.85d. $4.08$4.20

Material price variance = -7000 SP*AQ-AP*AQ=-7000 SQ*SP-AQ*SP=4200 SP*SQ-AP*AQ=4200-7000=-2800…

Answered: while the material quantity van…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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https://2021.tle.courses.open.uwi.edu/mod/quiz/attempt.php?attemp ERSITY OF THE WEST INDIES arning Exchange 2021 English (en) - y courses / ACCI1003 | S2 21/22/ General / ACCI 1003 FINAL ASSESSMENI_ Part 1 The entry to record the cost of raw materials placed in production is: Dr Raw Materials Inventory: Cr Accounts Payable or Cash a. Ob. Dr Manufacturing Overhead; Cr Raw Material Inventory Oc. Dr Work-In-Process; Cr Accounts Payable or Cash O d. Dr Work-In-Process: Cr Raw Materials Inventory -Box PEER ASSESSMENT FORM, ssignment Product Costing, Due April 1, 2022 by 11:00 pm EC Time (10:00 pm Jamaica Time) Jump to.. e here to search
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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 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 b. Determine the materials inventory balance at the end of…
TASKS Prepared supporting documents for Requested Materials to Purchase such as: (1) Purchase Request (PR), (2) Request for Quotation (RFQ), (3) Abstract for Quotation (AFQ), (4) Purchase Order (PO), & (5) Inspection and Acceptance Report (IAR). Prepared additional attachments such as: (1) Report of Waste Materials, (2) Request for pre-repair inspection and evaluation report. Issued Materials at the Warehouse (there are thousands of inventories) Posting of Purchase Requests to the Philippine Government Electronic Procurement System (PhilGEPS). (there are too many steps and details to keep in mind) Prepared Certificate of Creditable Tax Withheld at Source Updated the Summary of Withholding Taxes (SAWT) in the BIR System. Updated the Monthly Alphalist of Payees (MAP) and Quarterly Alphalist of Payees (QAP) in the BIR System. Remitted Creditable Withholding Tax (CWT) to the BIR via online.. Updated Bin Cards Updated Stock Cards. Reconciled the individual records of Inventories in the Bin…
Cullumber Company reported the following amounts for May: Raw materials purchased Beginning raw materials inventory Ending raw materials inventory Direct labor incurred Indirect materials requisitioned and used Actual manufacturing overhead costs Beginning work-in-process inventory Ending work-in-process inventory $257000 $257000. $256800. ◆ $259900. O $261100. 12300 8200 54000 4300 40000 15400 12300 How much is the cost of direct materials used in production?
Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 Total manufacturing costs incurred during August Total manufacturing costs Work in process inventory, August 31 Cost of goods manufactured a. $ b. $ C. $ d. $ e. f. $ $ 23,700 X 903,410 X 23,700 X 213,650 X 226,000 X 1,205,660 X $19,660 332,750 $41,650 (c) (a) $515,770 54,000 23,500 (b) (e) 1,075,000 $1,240,000 (f) (d) $1,068,000
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 Report Number 40 44 Quantity 130 d. Comparing 110 Unit Price $32.00 38.00 Materials Requisition Number 91 97 b. Determine the materials inventory balance at the end of May. Issued Quantity 365 100 Amount Date May 1 May 4 May 10 May 21 May 27 Quantity 285 Balance c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave blank. 88 Unit price $30.00 Amount $8,550 as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) causes idle time.
Given the following information how much raw material was transferred to work in progress on January 31? Inventory on January 1 is $100,000, raw materials purchased in January are $500,000, and raw materials inventory on January 31 is $200,000 A: $200,000 B: $400,000 C: $600,000 D: $700,000
The following information is available for the year ended December 31 Beginning raw materials inventory Raw materials purchases Ending raw materials inventory Direct labor expense The amount of direct materials used in production for the year is Multiple Choice $10,100 $5,300 $5,900 $ 4,300 5,800 $5,800 4,800 2,800
Please explain how you get the amount, quantity and unit price.
Subject- account
The journal entry to issue $700 of direct materials and $80 of indirect materials to production involves debit(s) to the O A. Manufacturing Overhead account for $780 OB. Work-in - Process Inventory account for $700 and Manufacturing Overhead account for $80 O C. Work-in - Process Inventory account for $780 O D. Work-in - Process Inventory account for $700 and Finished Goods Inventory account for $80

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while the material quantity van materials purchased in June wa