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    Storing and Issuing Materials - Computational

    Uploaded by

    Rosemarie Cruz
    The document contains 5 multiple choice questions about recording materials transactions on a job cost sheet and materials ledger. Question 1 asks for the materials cost for Job 055 based on data provided, with options ranging from P36,449 to P36,926. Question 2 asks for the correct journal entry to record materials requisitions of P44,810 for direct materials and P4,880 for indirect materials in June 2010. Question 3 provides materials ledger data and asks for the cost of ending inventory of Material 9-48, assuming a unit price of P6.80, with answers ranging from P9,389.50 to P9,550.80. Question 4 asks for the journal

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    Storing and Issuing Materials - Computational

    Uploaded by

    Rosemarie Cruz
    29 views3 pages
    The document contains 5 multiple choice questions about recording materials transactions on a job cost sheet and materials ledger. Question 1 asks for the materials cost for Job 055 based on data provided, with options ranging from P36,449 to P36,926. Question 2 asks for the correct journal entry to record materials requisitions of P44,810 for direct materials and P4,880 for indirect materials in June 2010. Question 3 provides materials ledger data and asks for the cost of ending inventory of Material 9-48, assuming a unit price of P6.80, with answers ranging from P9,389.50 to P9,550.80. Question 4 asks for the journal

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    Storing and Issuing Materials- Computational

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    The document contains 5 multiple choice questions about recording materials transactions on a job cost sheet and materials ledger. Question 1 asks for the materials cost for Job 055 based on data provided, with options ranging from P36,449 to P36,926. Question 2 asks for the correct journal entry to record materials requisitions of P44,810 for direct materials and P4,880 for indirect materials in June 2010. Question 3 provides materials ledger data and asks for the cost of ending inventory of Material 9-48, assuming a unit price of P6.80, with answers ranging from P9,389.50 to P9,550.80. Question 4 asks for the journal

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    29 views3 pages

    Storing and Issuing Materials - Computational

    Uploaded by

    Rosemarie Cruz
    The document contains 5 multiple choice questions about recording materials transactions on a job cost sheet and materials ledger. Question 1 asks for the materials cost for Job 055 based on data provided, with options ranging from P36,449 to P36,926. Question 2 asks for the correct journal entry to record materials requisitions of P44,810 for direct materials and P4,880 for indirect materials in June 2010. Question 3 provides materials ledger data and asks for the cost of ending inventory of Material 9-48, assuming a unit price of P6.80, with answers ranging from P9,389.50 to P9,550.80. Question 4 asks for the journal

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    1.

    The job cost sheet show the following data for Job 055 for the month of
    November, 2010:
    044 P31.920 039 P340
    045 143 043 34
    049 1,592 048 103
    150 2,933
    154 338
    Requisition Returned Materials Report
    What is the materials cost for Job 055?
    a. P36,449
    b. P35,450
    c. P36,559
    d. P36,926
    2. During June 2010, Star Fools had requisitions totaling P44,810 for direct
    materials and P4,880 for indirect materials.
    What is the entry to record the cost of materials requisition for the
    month?

    a. Work in process 44,810


    Mfg. overhead control 4,880
    Materials 49,690

    b. Work in process 44,810


    Indirect materials 4,880
    Materials 49,690

    c Direct materials 44,810


    Indirect materials 4,880
    Materials 49,690

    d. Mfg. overhead control 4,880


    Direct materials 44,810
    Materials 49,790
    3. The materials ledger card shows the following units for Materials 9-48
    Beginning balance 15 939
    Purchases 6’,600
    Issued
    _____________________________________13,050
    Assuming the unit price of Materials 9-48 is P6.80, what is the cost of the
    ending inventory of Materials 9-48?
    a. P9,536.80
    b. P9,550.80
    c. P9,389.50
    d. P5,936.80
    a. Materials 14,030
    Work in process Mfg. overhead 13,480 550
    control
    14,030
    b. Materials 13,480
    Direct materials Indirect
    materials 550
    14,030
    c. Materials 14,030
    Work in process
    d. Materials 13,480 13,480
    Direct materials
    4. During July 2010, Jump Products Company had returned P 13,480 in
    direct materials and P550 in indirect materials.
    What is the journal entry to record the cost of materials returned to
    storeroom for the month?

    Vouchers payable 3,500


    a. Materials
    3,500
    b. Work in process 3,500
    Materials
    c Vouchers payable 3,500
    Work in process 3,500
    5. O„ March 10. 2010 Ola, Co^retur.d
    d. Work
    P in process 3,500
    maHS the“u?n‘al%n
    Materials
    U
    g to 'record the m.toriakreturned? 3,500
    Chapter
    3 2

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