Receiving Report NumberQuantityUnit Price Materials Requisition NumberQuantityAmount DateQuantityUnit priceAmount

May 1240$8$1,920

27170$10 May 4

108270$ May 10

3311012 May 21

121160 May 27

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a. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity.

b. Determine the materials inventory balance at the end of May. $

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b. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity.

c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank.

Work in Process

Materials

c. Increase work in process and decrease materials for the total of issuances found in Req. a.

d. Comparing quantities on hand as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) lack of materials causes idle time.