Issuance of materials The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process. To prepare: the subsidiary ledger under FIFO for material issuance and balances.

Question

Alpine Manufacturing Company's high and low level of activity last year was 62,000 units of product produced in July and 24,000 units produced in December. Machine maintenance costs were $186,500 in July and $89,300 in December. Using the high-low method, determine an estimate of total maintenance cost for a month in which production is expected to be 40,000 units.

Answer 1

Question

Chapter 19, Problem 19.2EX

(a)

To determine

Issuance of materials

The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process.

To prepare: the subsidiary ledger under FIFO for material issuance and balances.

(b)

To determine

material inventory balance at the end of May.

(c)

To determine

To record: Journal entry for issuance of materials.

(d)

To determine

To explain: the use of material ledger in maintaining inventory quantities on hand.

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Alpine Manufacturing Company's high and low level of activity last year was 62,000 units of product produced in July and 24,000 units produced in December. Machine maintenance costs were $186,500 in July and $89,300 in December. Using the high-low method, determine an estimate of total maintenance cost for a month in which production is expected to be 40,000 units.

I am looking for the correct answer to this general accounting problem using valid accounting standards.

Please explain the accurate process for solving this financial accounting question with proper principles.

Answer 2

Question

Chapter 19, Problem 19.2EX

(a)

To determine

Issuance of materials

The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process.

To prepare: the subsidiary ledger under FIFO for material issuance and balances.

(b)

To determine

material inventory balance at the end of May.

(c)

To determine

To record: Journal entry for issuance of materials.

(d)

To determine

To explain: the use of material ledger in maintaining inventory quantities on hand.

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Answer 3

Question

Chapter 19, Problem 19.2EX

(a)

To determine

Issuance of materials

The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process.

To prepare: the subsidiary ledger under FIFO for material issuance and balances.

(b)

To determine

material inventory balance at the end of May.

(c)

To determine

To record: Journal entry for issuance of materials.

(d)

To determine

To explain: the use of material ledger in maintaining inventory quantities on hand.

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Answer 4

Question

Chapter 19, Problem 19.2EX

(a)

To determine

Issuance of materials

The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process.

To prepare: the subsidiary ledger under FIFO for material issuance and balances.

(b)

To determine

material inventory balance at the end of May.

(c)

To determine

To record: Journal entry for issuance of materials.

(d)

To determine

To explain: the use of material ledger in maintaining inventory quantities on hand.

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Answer 5

Chapter 19, Problem 19.2EX

(a)

To determine

Issuance of materials

The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process.

To prepare: the subsidiary ledger under FIFO for material issuance and balances.

(b)

To determine

material inventory balance at the end of May.

(c)

To determine

To record: Journal entry for issuance of materials.

(d)

To determine

To explain: the use of material ledger in maintaining inventory quantities on hand.

Answer 6

Chapter 19, Problem 19.2EX

(a)

To determine

Issuance of materials

The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process.

To prepare: the subsidiary ledger under FIFO for material issuance and balances.

Answer 7

Chapter 19, Problem 19.2EX

(a)

To determine

Issuance of materials

The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process.

To prepare: the subsidiary ledger under FIFO for material issuance and balances.

Answer 8

(b)

To determine

material inventory balance at the end of May.

Answer 9

(b)

To determine

material inventory balance at the end of May.

Answer 10

(c)

To determine

To record: Journal entry for issuance of materials.

Answer 11

(c)

To determine

To record: Journal entry for issuance of materials.

Answer 12

(d)

To determine

To explain: the use of material ledger in maintaining inventory quantities on hand.

Answer 13

(d)

To determine

To explain: the use of material ledger in maintaining inventory quantities on hand.

Answer 14

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Ch. 19 - a. Name two principal types of cost accounting...Ch. 19 - What kind of firm would use a job order cost...Ch. 19 - Prob. 3DQ Ch. 19 - Prob. 4DQ Ch. 19 - What is a job cost sheet?Ch. 19 - Prob. 6DQ Ch. 19 - Discuss how the predetermined factory overhead...Ch. 19 - a. How is a predetermined factory overhead rate...Ch. 19 - a. What is (1) overapplied factory overhead and...Ch. 19 - Describe how a job order cost system can be used...

Solution Summary: The author explains how the material storeroom releases raw materials for use in manufacturing process when a material requisition is received.

material inventory balance at the end of May.

To record: Journal entry for issuance of materials.

To explain: the use of material ledger in maintaining inventory quantities on hand.

Chapter 19 Solutions