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	$20,500
Polyester filling	6,200
Lumber	45,900
Glue	2,000

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

Fabric	$102,900
Polyester filling	143,000
Lumber	281,900
Glue	9,800

Materials were requisitioned to individual jobs as follows:

	Fabric		Polyester Filling		Lumber		Glue		Total
Job 601	$37,000		$46,600		$124,700				$208,300
Job 602	28,500		50,700		109,200				188,400
Job 603	26,300		34,400		60,700				121,400
Factory overhead-indirect materials							$4,800		4,800
Total	$91,800		$131,700		$294,600		$4,800		$522,900

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.

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 $20,500 Polyester filling 6,200 Lumber 45,900 Glue 2,000 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $102,900 Polyester filling 143,000 281,900 Lumber Glue 9,800 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $37,000 $46,600 $124,700 $208,300 Job 602 28,500 50,700 109,200 188,400 Job 603 26,300 34,400 60,700 121,400 Factory overhead-indirect materials $4,800 4,800 Total $91,800 $131,700 $294,600 $4,800 $522,900 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. Journalize the entry to record the purchase of materials in April. If an amount box does not require an entry, leave it blank. a 88 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. Fabric Polyester Filling Lumber Glue Balance, April 30