The following information relates to JKL Company's materials inventory for the month of March 2021. 800...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following information relates to JKL Company's materials inventory for the month of March 2021. 800 units at 5.00 200 units at 6.00 March 1 Beginning Balance 5 Purchases 6 Purchase Returns 9 Purchases 16 Issuances 22 Excess Materials 24 Purchases 27 Issuances 50 units 200 units at 7.00 400 units 20 units 300 units at 8.00 500 units Compute the Ending Inventory, if: 13. The costs of materials are charged in order of occurrence 14. The costs of materials are charged at an average cost perpetually (round off to the nearest peso) 15. The costs of materials are charged at an average cost periodically (round off to the nearest peso) The following information relates to JKL Company's materials inventory for the month of March 2021. 800 units at 5.00 200 units at 6.00 March 1 Beginning Balance 5 Purchases 6 Purchase Returns 9 Purchases 16 Issuances 22 Excess Materials 24 Purchases 27 Issuances 50 units 200 units at 7.00 400 units 20 units 300 units at 8.00 500 units Compute the Ending Inventory, if: 13. The costs of materials are charged in order of occurrence 14. The costs of materials are charged at an average cost perpetually (round off to the nearest peso) 15. The costs of materials are charged at an average cost periodically (round off to the nearest peso)
Expert Answer:
Answer rating: 100% (QA)
Lets calculate the ending inventory using three different methods 13 The costs of materials are charged in order of occurrence To calculate the ending inventory using the First In First Out FIFO metho... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Old Office Building Karas Investments owns a small office building in Windhoek, from which the company operates. The Windhoek office was purchased on 1 March 2019. Karas Investments decided to move...
-
The following information relates to Sydney Computer Services. Income Statement for the year ended 30 June 2013 Additional Information: The Owner withdrew $20,000 through the year for her own use....
-
Question 2: What kind of path/steps should the researcher follow, who wants to demonstrate/support the view that "There is a relationship between the COVID-19 spread indicators (cases, number of...
-
Determine whether or not it is possible to cold work brass so as to give a minimum Brinell hardness of 120 and at the same time have a ductility of at least 20%EL. Justify your decision.
-
Discuss the pros and cons of binomial probability tables.
-
Iron Man Products has projected the following sales for the coming year: Sales in the year following this one are projected to be 15 percent greater in each quarter. a. Calculate payments to...
-
Prepare budgeted income statement (Learning Objective 2) The budget committee of Vinning Office Supply has assembled the following data. As the business manager, you must prepare the budgeted income...
-
Multiple Choice Questions 1. In the long run, which of the following outcomes is most likely for a firm? a. Zero accounting profits but positive economic profits b. Zero accounting profits c....
-
1. Determine the values of, if any, at which each function is discontinuous. At each number where is discontinuous, state the condition(s) for continuity that are violated. (show steps) \f58. f (ac)...
-
As of January 1, 2012, the trial balance for Haven Hospital was as follows: During the fiscal year ended December 31, 2012, the following transactions occurred: 1. Patient service revenue amounted to...
-
Directions After reading each problem identify which method you will use to solve Then use solve the problem Special Ratio HB B Inverse Trig Pythagorean Theorem Trigonometry 3 As shown in the diagram...
-
What is the stance of Reid et al. (2012) regarding the imposition of negative sanctions for staff performance ? Explain
-
Discuss the following for your product or service: Marketing Mix Product strategy - in addition to career clothing, what other products should the Consignment Store carry and what is your strategy...
-
1. Allocate the 400 points according to time invested, and then allocate the points according to pages produced. Decide how you would allocate the points to group members if you were Ron, using...
-
Assume Zo's utility function is U(C, L) = CL where C is consumption measured by her total income and L is leisure. Total income is labour income and non-labour income. She has y = $400 non-labour...
-
The average and standard deviation for ACT scores are 20 and 3 respectively. The average and standard deviation for SAT scores are 1050 and 150 respectively. Student A that scored a 28 on their ACT...
-
Equivalent Units of Production Units of production data for the two departments of Mediterranean Cable and Wire Company for November of the current fiscal year are as follows: Work in process,...
-
In July 2013, cnet.com listed the battery life (in hours) and luminous intensity (i. e., screen brightness, in cd/m2) for a sample of tablet computers. We want to know if screen brightness is...
-
Compute the Cost of Goods Manufactured and Cost of Goods Sold for Blue Sea Company for the most recent year using the amounts described next. Assume that Raw Materials Inventory contains only...
-
Refer to the Star Valley Data Set in E12- 50B. Requirements 1. What is the projects NPV? Is the investment attractive? Why or why not? 2. Assume the expansion has no residual value. What is the...
-
Appleton Manufacturing produces ceramic teapots. Appleton allocates overhead based on the number of direct labor hours. The company is looking into using a standard cost system and has developed the...
-
Office noise on a floor of people working at desks: \(40 \mathrm{~dB}, 60, \mathrm{~dB}, 80 \mathrm{~dB}\) Select the most representative decibel level for each sound.
-
What is one whole step down from \(G^{b}\) ? State the requested note.
-
What is one half-step above \(G^{\#}\) ? State the requested note.
Study smarter with the SolutionInn App