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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:
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 $20,200 Polyester filling 6,100 Lumber 45,200 Glue 1,900 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $103,000 Polyester filling 143,200 282,200 Lumber Glue 9,800 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $37,100 $46,700 $208,800 $125,000 109,400 Job 602 28,600 50,800 188,800 Job 603 26,300 34,500 60,800 121,600 Factory overhead-indirect Imaterials $4,800 4,800 ITotal +92 Onn $132 onn $295 2nn 44 son #524 0on Total $92,000 $132,000 $295,200 $4,800 $524,000 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. Materials a. Accounts Payable Feedback Check My Work 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 Factory Overhead Materials Feedback Check My Work b. Increase the work in process for direct materials for the Jobs and factory overhead for the indirect materials. . 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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