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During August, the receipts and distributions of Material No. B4G9 are as follows: Received Aug. 31,100 units at $15 161,700 units at $17 29 900 units at $18 Issued Aug. 11 700 units for Job 116 181,900 units for Job 117 30 800 units for Job 118 a. Determine the cost of each of the three issues under a perpetual system, using the first-in, first-out method.

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Answer:

The total cost will be "$56,200". A further explanation is provided below.

Explanation:

According to the question,

The cost of issue of Aug 11 will be:

= [tex]700\times 15[/tex]

= [tex]10,500[/tex] ($)

The cost of issue of Aug 18 will be:

= [tex]400\times 15+1500\times 17[/tex]

= [tex]6000 +25500[/tex]

= [tex]31,500[/tex] ($)

The cost of issue of Aug 30 will be:

= [tex]200\times 17+600\times 18[/tex]

= [tex]3400+10800[/tex]

= [tex]14,200[/tex] ($)

Now,

The total cost will be:

= [tex]10,500+31,500+14,200[/tex]

= [tex]56,200[/tex] ($)

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