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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 ledger
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 $29,000 Polyester filling 8,700 Lumber 2,800 65,000 Glue The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $144,700 Polyester filling 201,100 Lumber 396,500 Glue 13,700 Materials were requisitioned to individual jobs as follows: Polyester Fabric Filling Job 601 $53,500 $67,400 Lumber Glue Total $180,300 $301,200 Job 602 73,300 157,800 272,300 41,200 38,000 Job 603 49,800 87,700 175,500 Factory overhead-indirect materials $7,000 7,000 Total $132,700 $190,500 $425,800 $7,000 $756,000 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. 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 $
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