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	$20,300
Polyester filling	6,100
Lumber	45,500
Glue	1,900

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

Fabric	$101,900
Polyester filling	141,600
Lumber	279,200
Glue	9,700

Materials were requisitioned to individual jobs as follows:

	Fabric	Polyester Filling	Lumber	Glue	Total
Job 601	$38,700		$48,800		$130,400			$217,900
Job 602	29,800		53,000		114,200			197,000
Job 603	27,500		36,000		63,500			127,000
Factory overhead-indirect materials							$5,000		5,000
Total	$96,000		$137,800		$308,100		$5,000		$546,900

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

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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 ProcessMaterials	Materials	Materials
	Accounts PayableCashFactory OverheadFinished GoodsMaterialsWork in ProcessAccounts Payable	Accounts Payable	Accounts Payable

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a. Increase materials inventory and a liability for the total of purchases.

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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 ProcessWork in Process	Work in Process	Work in Process
	Accounts PayableAccounts ReceivableCashFactory OverheadFinished GoodsMaterialsFactory Overhead	Factory Overhead	Factory Overhead
	Accounts PayableCashFactory OverheadFinished GoodsMaterialsWork in ProcessMaterials	Materials	Materials

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