Complete the missing part D c Direct labor cost E108 Cost of

c. Direct labor cost E10-8 Cost of materials issuances An incomplete subsidiary ledger of wire cable for July is as follows: RECEIVED ISSUED BALANCE Receiving Report Number Quantity Price Number Quantity Amount DateQuantity Amount Materials Unit Requisition Unit July 1 250 July 5 July 10 July 20 July 26 $1,500 $6.00 309 400 $7.50 7401 480 422 800 8.00 7639 650 a. Complete the materials issuances and balances for the wire cable subsidiary ledger. b. Determine the balance of wire cable at the end of July. c. Determine the total amount of materials transferred to Work in Process for July d. Explain how the materials ledger might be used as an aid in maintaining inventory quanti- ties on hand. Note: The spreadsheet icon indicates an Excel template is available on the student companion site.

Solution

solution d:- since the stores or the materials ledger has complete details of receipts of inventory, issue of inventory and balance inventory available in hand , therfore store keeper or the store personnel is know well in advance which particular stock of goods is available in less quantity or which stock is in abundant quantity . due to the fact materials ledger is a good source to maintain inventory quantities in hand.