To implement the First-In, First-Out (FIFO) method, we need to determine the order in which the items were received and sent to the production department. Based on the information provided, here is the calculation:
1. Calculate the total quantity and cost for each batch of items received:
- Batch 1: 120 items received at a unit cost of $135.00 (Total cost = 120 * 135.00 = $16,200.00)
- Batch 2: 190 items received at a unit cost of $142.00 (Total cost = 190 * 142.00 = $26,980.00)
- Batch 3: 110 items received at a unit cost of $128.00 (Total cost = 110 * 128.00 = $14,080.00)
- Batch 4: 165 items received at a unit cost of $149.00 (Total cost = 165 * 149.00 = $24,585.00)
2. Calculate the total quantity and cost for each batch of items sent to the production department:
- Batch 1: 60 items sent (Total cost remains the same as it is before the items are sent)
- Batch 2: 90 items sent (Total cost remains the same as it is before the items are sent)
- Batch 3: No items sent
- Batch 4: 185 items sent (Total cost remains the same as it is before the items are sent)
3. Calculate the remaining items in the raw materials warehouse:
- Batch 1: 120 - 60 = 60 items
- Batch 2: 190 - 90 = 100 items
- Batch 3: 110 items
- Batch 4: 165 - 185 = -20 items (This means we have a negative quantity and should be adjusted)
Based on the information provided, it seems there is an error in the data as we cannot have a negative quantity in the warehouse. It's best to double-check the data and make the necessary corrections.
Someone to help get the peps first in, first out) out of this exercise
UNIT 2 Evaluation
Article "B" has the following movement in the month of February 2015:
CONCEPT
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EXERCISE No. 4
26
120 items are received in the raw materials warehouse, the cost of which
unit is $135.00
60 items are sent to the production department.
190 items are received in the raw materials warehouse, the cost of which
unit is $142.00.
90 items are sent to the production department.
110 items are received in the raw materials warehouse, the cost of which
unit is $128.00.
165.00 items are received in the raw materials warehouse, the cost of which
unit is $149.00
185 items are sent to the production department.
1 answer