Answered step by step
Verified Expert Solution
Question
1 Approved Answer
someone please assist with this one Question 1 Prumex Prumex manufactures concrete slabs. The following transactions relate to the purchases and usage of cement, one
someone please assist with this one
Question 1 Prumex Prumex manufactures concrete slabs. The following transactions relate to the purchases and usage of cement, one of the materials used in production. 01/04/2020: Balance - 4 050 kg purchased for R1.50/kg 02/04/2020: Issued to production - 3 000 kg 09/04/2020: Purchased - 4000 kg @ R2.00/kg 16/04/2020: Issued to production - 2 050 kg 21/04/2020: Purchased - 3 000 kg @ R2.25/kg 29/04/2020: Issued to production - 3 100 kg. Source: Daniels, J. (2020) 1.1 Complete the inventory ledger card below. Make use of the First-In-First-Out (FIFO) method. Where applicable, round to two decimals. (14 Marks) Purchases Balance Date Price per kg Issues Price per kg kg Total kg Total Price kg per kg Total 4 050 kg R1,50 R 6075 01/04/2020 02/04/2020 09/04/2020 16/04/2020 21/04/2020 29/04/2020 1.2 Calculate the total cost of cement issued to production. (1 Mark)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started