: At a VAT-deductible manufacturing enterprise. Calculation of first-in-first-out (FIFO) value in May 201X with arising economic transactions: Document 1: Beginning balance of some accounts: - Raw materials in stock (Account 152): VND 82,000,000 (2,000kg)
- Raw materials in stock: VND 25,000,000 (5,000 kg)
- Exitware Tools (Account 153): VND 12,500,000 (500 pieces)
- Production in progress: 45,000,000 VND
Document 2: Economic transactions arising in the period
1. Import warehouse 5000kg, unit price of raw materials with 10% VAT is
VND 44,000/kg, unpaid. Shipping cost 800,000 VND in cash
2. Export warehouse 6,000kg of main materials to produce products
3. Warehouse of 3,000 kg of materials, purchase price excluding tax 6,000 VND / kg, VAT
10% payment by bank transfer. Loading and unloading cost 660,000 VND including 10% tax 10%
Gtgt paid in cash.
4. Accessories for export 7,000 kg of which to produce 4,500 kg products, server analysis
roll 1,000 kg, salesman 1,500 kg
5. Main export of 1,000 kg of materials to produce 800 kg of products and 200 kg of service
partition
6. Buy tools and tools in the quantity of 1,000 pieces, unit price 23,000 VND/piece, VAT
10% unpaid. Tool about enter the resource of 200 input
core.
7. Export warehouse 500tools and tools for the workshop, allotted 10 months.
plug-in converts to a monthly cost.
8. Report formatter for home use analysis, ex-warehouse price 26,000,000 types
10 months. Scrap sold in cash 1,200,000 VND
9. The salary payable to employees directly in production is 35,000,000 VND, in the distributed division it is 6,000,000 VND.
10. Deducting social insurance, health insurance, unemployment insurance, unemployment insurance according to regulations.
11. Depreciation of fixed assets directly produced is 4,000,000 VND
12. Cash payment for electricity, water, and tap water production is 7,700,000 VND including tax
VAT 10%
13. Production results:
- Complete inventory 700 products A and 800 products B. Coefficient A = 1, B = 1.3
- Work in progress at the end of the period 200 products A and 300 products B. Product evaluation
bad product
- follow direct material cost
Requirement: Determine the arising transactions to calculate the product cost according to the system of methods