Entries for Materials

Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials ledger are as follows:

Fabric$23,600Polyester filling7,100Lumber52,900Glue2,300

The materials purchased during April on account are summarized from the receiving reports as follows:

Fabric$119,700Polyester filling166,400Lumber328,000Glue11,400

Materials were requisitioned to individual jobs as follows:

FabricPolyester FillingLumberGlueTotalJob 601$44,300$55,800$149,300$249,400Job 60234,10060,700130,700225,500Job 60331,50041,20072,700145,400Factory overhead-indirect materials$5,8005,800Total$109,900$157,700$352,700$5,800$626,100

The glue is not a significant cost, so it is treated as indirect materials (factory overhead).

Question Content Area

a. Journalize the entry to record the purchase of materials in April. If an amount box does not require an entry, leave it blank.

a.Accounts PayableCashFactory OverheadFinished GoodsMaterialsWork in ProcessMaterialsMaterialsMaterialsAccounts PayableCashFactory OverheadFinished GoodsMaterialsWork in ProcessAccounts PayableAccounts PayableAccounts Payable

Question Content Area

b. Journalize the entry to record the requisition of materials in April. If an amount box does not require an entry, leave it blank.

b.Accounts PayableAccounts ReceivableCashFinished GoodsMaterialsWork in Process- Select -- Select -Accounts PayableAccounts ReceivableCashFactory OverheadFinished GoodsMaterials- Select -- Select -Accounts PayableCashFactory OverheadFinished GoodsMaterialsWork in Process- Select -- Select -

Question Content Area

c. Determine the April 30 balances that would be shown in the materials ledger accounts.

FabricPolyester FillingLumberGlueBalance, April 30$fill in the blank aeddc4fdcfef03f_1$fill in the blank aeddc4fdcfef03f_2$fill in the blank aeddc4fdcfef03f_3$fill in the blank aeddc4fdcfef03f_4