1. An incomplete subsidiary ledger of materials inventory for May is as follows:
2. a.Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.
3. ReceivedIssuedBalanceReceiving
4. Report
5. NumberQuantityUnit
6. PriceMaterials
7. Requisition
8. NumberQuantityAmountDateQuantityUnit
9. priceAmountMay 1340$8$2,72025240$10May 4107380$May 103116012May 21120230May 27
10. Feedback
12. a. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity.
13. b.Determine the materials inventory balance at the end of May.
14. $
15. Feedback
17. b. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity.
18. c.Journalize the summary entry to transfer materials to work in process.
23. Feedback
25. c. Increase work in process and decrease materials for the total of issuances found in Req. a.
26. d.Comparing
28. as reported in the materials ledger with predetermined order points would enable management to order materials before a(n)
30. causes idle time.
31. Feedback
33. d. What is the benefit of having materials as needed?
34. Feedback
36. Incorrect

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