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  • 301 - Solutions 3-1 and 3-2

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    Raven Garcia
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    This document contains information from multiple ledgers and journals related to materials management: 1) A materials ledger card tracks the inventory balance of item W-64 from purchases, issues, and returns throughout the month. The beginning balance was 1,300 units and the ending balance was 1,290 units. 2) A materials requisitions journal records materials requisitions from work orders and departments totaling $107,850 for the month. 3) A vouchers register shows payments to vendors totaling $150,400 for materials purchases.

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    Cost Acctg guerrero

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    301- Solutions 3-1 and 3-2

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    This document contains information from multiple ledgers and journals related to materials management: 1) A materials ledger card tracks the inventory balance of item W-64 from purchases, issues, and returns throughout the month. The beginning balance was 1,300 units and the ending balance was 1,290 units. 2) A materials requisitions journal records materials requisitions from work orders and departments totaling $107,850 for the month. 3) A vouchers register shows payments to vendors totaling $150,400 for materials purchases.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
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    86 views4 pages

    301 - Solutions 3-1 and 3-2

    Uploaded by

    Raven Garcia
    This document contains information from multiple ledgers and journals related to materials management: 1) A materials ledger card tracks the inventory balance of item W-64 from purchases, issues, and returns throughout the month. The beginning balance was 1,300 units and the ending balance was 1,290 units. 2) A materials requisitions journal records materials requisitions from work orders and departments totaling $107,850 for the month. 3) A vouchers register shows payments to vendors totaling $150,400 for materials purchases.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 4

    301- Solutions

    Problem 3-1
    MATERIALS LEDGER CARD
    Materials W-64
    Number

    Date
    1-Jun
    4
    10
    15
    16
    19
    23
    27
    29
    30

    Ref.
    Bal.
    PO310
    MR41
    MR49
    RM48
    MR58
    PO351
    RS024
    MR61
    RM56

    Units

    Received
    Price

    1,300

    1,300
    (100)

    8.00

    Amount

    Units

    Issued
    Price

    Amount

    10,400.00

    8.00
    8.00

    250
    1,150
    (220)
    120

    8.00
    8.00
    8.00
    8.00

    620
    (150)

    8.00
    8.00

    10,400.00
    (800.00)

    2,000.00
    9,200.00
    (1,760.00)
    960.00
    4,960.00
    (1,200.00)

    Problem 3-2
    MATERIALS REQUISITIONS JOURNAL
    For the month of

    Date
    8-May
    14
    21
    24

    May,

    2010

    Req. No.

    Job No./Department

    41
    26
    43
    44

    25
    26
    Finishing
    26

    Work in Process
    (DR. 122)
    26,150.00
    49,600.00

    FO Control
    (DR. 501)

    16,600.00
    32,100.00
    107,850.00

    16,600.00

    VOUCHERS REGISTER
    For the month of

    Voucher
    Date
    No.
    4-May
    51

    May,

    2010

    Payable to
    Shaft Supply

    Date

    Paid
    Check No.

    Vouchers
    Payable
    (CR. 201)
    58,100.00

    Materials
    (DR. 121)
    58,100.00

    17
    26
    29

    52
    53
    RSO28

    Ace Corp.
    Handyman
    Handyman

    56,400.00
    39,800.00
    (3,900.00)
    150,400.00

    MATERIALS
    Date
    Explanation
    1-May Balance
    31
    31

    Post Ref.

    Debit

    VR 20
    MR2

    150,400.00

    Credit

    124,450.00

    Balance
    155,500.00
    305,900.00
    181,450.00

    56,400.00
    39,800.00
    (3,900.00)
    150,400.00

    Reorder Point
    Reorder Qnty.

    Units
    560
    1,860
    1,610
    460
    680
    560
    1,860
    1,760
    1,140
    1,290

    Page

    600 units
    1,200 units

    Balance
    Price

    Amount
    4,480.00
    14,880.00
    12,880.00
    3,680.00
    5,440.00
    4,480.00
    14,880.00
    14,080.00
    9,120.00
    10,320.00

    Materials
    (CR. 121)
    26,150.00
    49,600.00
    16,600.00
    32,100.00
    124,450.00

    Page

    A/C
    No.

    20

    Other Accounts
    Debit
    Credit

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