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	$58,300
Polyester filling	30,000
Lumber	58,800
Glue	9,950

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

Fabric	$820,000
Polyester filling	315,000
Lumber	555,000
Glue	80,000

Materials were requisitioned to individual jobs as follows:

	Fabric		Polyester Filling		Lumber		Glue		Total
Job 601	$190,000		$66,200		$118,500				$374,700
Job 602	365,000		152,100		219,300				736,400
Job 603	255,000		101,700		196,200				552,900
Factory overhead-indirect materials							$83,600		83,600
Total	$810,000		$320,000		$534,000		$83,600		$1,747,600

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.	Materials	fill in the blank ce2c71f1f047005_2	fill in the blank ce2c71f1f047005_3
	Accounts Payable	fill in the blank ce2c71f1f047005_5	fill in the blank ce2c71f1f047005_6

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

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.	Work in Process	fill in the blank ee5f24036fe1fac_2	fill in the blank ee5f24036fe1fac_3
	Factory Overhead	fill in the blank ee5f24036fe1fac_5	fill in the blank ee5f24036fe1fac_6
	Materials	fill in the blank ee5f24036fe1fac_8	fill in the blank ee5f24036fe1fac_9

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b. Increase the work in process for direct materials for the Jobs and factory overhead for the indirect materials.

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

	Fabric	Polyester Filling	Lumber	Glue
Balance, April 30	$fill in the blank fd69b80a506ffa5_1	$fill in the blank fd69b80a506ffa5_2	$fill in the blank fd69b80a506ffa5_3	$fill in the blank fd69b80a506ffa5_4

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