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Storing and Issuing Materials - Computational

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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Rosemarie Cruz
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80 views3 pages

Storing and Issuing Materials - Computational

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

Uploaded by

Rosemarie Cruz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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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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