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Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials
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 Polyester filling Lumber Glue $22,800 6,800 51,100 2,200 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric Polyester filling $111,500 155,000 Lumber 305,500 Glue 10,600 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $40,100 $50,500 $135,100 $225,700 Job 602 30,900 54,900 118,300 204,100 Job 603 28,500 37,300 65,800 131,600 Factory overhead-indirect materials $5,200 5,200 Total $99,500 $142,700 $319,200 $5,200 $566,600 The glue is not a significant cost, so it is treated as indirect materials (factory overhead). 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. 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. c. Determine the April 30 balances that would be shown in the materials ledger accounts. Balance, April 30 Fabric Polyester Filling Lumber Glue
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