Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 13 Aug 2017 My Price 4.00

materials ledger account

The following transactions affecting materials occurred in February:
Feb. 1 Balance on hand, 1,200 ft @ $2.76, $3,312.00 (plastic tubing, materials ledger account #906).
5 Issued 60 ft to production on Materials Requisition No. 108.
11 Issued 200 ft on Materials Requisition No. 210.
14 Received 800 ft from a supplier, Receiving Report No. 634, price $2.80 per ft.
15 Issued 400 ft, Materials Requisition No. 274.
16 Returned to a supplier for credit, 90 ft purchased on February 14, which were found to be defective.
18 Received 1,000 ft, Receiving Report No. 712, price $2.83 per ft.
21 Issued 640 ft, Materials Requisition No. 318.
Required:
Record the transactions on materials ledger accounts similar to Figure. (The ?~?~On Order’’ columns should be omitted.) Use the following inventory methods, assuming the use of a perpetual inventory system. Carry unit prices to four decimal places.
1. FIFO
2. LIFO
3. Moving average

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Aug 2017 10:08 AM My Price 4.00

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