Issued Balance a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Receiving Materials Report Quantity Price Requisition Quantity Number May 1 Unit Amount Date Quantity Unit price Amount Number 300 $5 $1,500 26 210 $7 May 4 300 5 1,500 210 7 103 340 May 10 X 7 32 140 9 May 21 140 116 200 May 27 Fedoch Check My W a. Calculate the amount of each materials issue, using Fifo, in the Balance uction separate each different unt price and ta quarthy b. Determine the materials inventary balance at the end of May. Feedback Check My Work Next Check My Work b. Determine the materials inventory balance at the end of May. Feedback Check My Work e. Journalize the summary entry to transfer materials to work in process. Fech Check My Wor c. Increase work in process and decrease materials for the total of issuances found in Req, a d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before ain) causes idle time, Feedback Check My Work d. What is the benefit of having materials as needed? Feedback Next