Solution-How much materials cost must be charged to jobs

How much materials cost must be charged to jobs for april

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Reference no: EM132693505

The following information appears on the stock card for material DEF for April, 20C:

Beginning balance: 700 units @ P5;

Purchases:

April 10 - 2,500 units @ P6.00;

April 18 - 2,000 units @ P5.50;

April 27 - 3,000 units @ P5.80.

Issuances:

April 11 - 2,000 units for Job No. 76;

April 15 - 700 units for Job No. 79;

April 20 - 1,500 units for Job No. 75;

April 25 - 600 units for Job No. 79;

April 30 - 1,500 units for Job No. 76.

Problem 1: On April 19, 200 units of the April 18 delivery were returned to the supplier for being defective. Accordingly, a credit memorandum was received from the latter. On April 29, 100 units were returned to the storeroom by the department that made the requisition on April 20. Using the FIFO costing method, how much materials cost must be charged to the jobs for April?

Reference no: EM132693505

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How much materials cost must be charged to jobs for april

Reference no: EM132693505

Reference no: EM132693505

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