Cost of materials issuances under the fifo method an incomplete subsidiary ledger of materials inventory for may is as follows: a. complete the materials issuances and balances for the materials subsidiary ledger under fifo. received issued balance receiving report number quantity unit price materials requisition number quantity amount date quantity unit price amount may 1 200 $5 $1,000 23 140 $7 may 4 107 230 $ may 10 29 90 9 may 21 120 130 may 27 b. determine the materials inventory balance at the end of may. $ c. journalize the summary entry to transfer materials to work in process. 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.

Arecession is defined as a period in which

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

Joint cost cheyenne, inc. produces three products from a common input. the joint costs for a typical quarter follow: direct materials $45,000 direct labor 55,000 overhead 60,000 the revenues from each product are as follows: product a $75,000 product b 80,000 product c 30,000 management is considering processing product a beyond the split-off point, which would increase the sales value of product a to $116,000. however, to process product a further means that the company must rent some special equipment costing $17,500 per quarter. additional materials and labor also needed would cost $12,650 per quarter. a. what is the gross profit currently being earned by the three products for one quarter? $answer b. what is the effect on quarterly profits if the company decides to process product a further? $answer