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The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $135,600 Polyester filling 188,500 Lumber 371,500 Glue 12,900 Materials
The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $135,600 Polyester filling 188,500 Lumber 371,500 Glue 12,900 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $48,800 $61,500 $164,500 $274,800 Job 602 37,600 66,900 144,000 248,500 Job 603 34,600 45,400 80,000 160,000 Factory overhead-indirect materials $6,300 6,300 Total $121,000 $173,800 $388,500 $6,300 $689,600 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 amount box does not require an entry, leave it blank. Materials a. 708,500 Accounts Payable 708,500 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 682,500 Factory Overhead 6,300 Materials 688,800 c. Determine the April 30 balances that would be shown in the materials ledger accounts. Fabric Polyester Filling Lumber Glue Balance, April 30 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $135,600 Polyester filling 188,500 Lumber 371,500 Glue 12,900 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $48,800 $61,500 $164,500 $274,800 Job 602 37,600 66,900 144,000 248,500 Job 603 34,600 45,400 80,000 160,000 Factory overhead-indirect materials $6,300 6,300 Total $121,000 $173,800 $388,500 $6,300 $689,600 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 amount box does not require an entry, leave it blank. Materials a. 708,500 Accounts Payable 708,500 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 682,500 Factory Overhead 6,300 Materials 688,800 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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