Question

Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost...

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 $20,800 Polyester filling 6,200 Lumber 46,600 Glue 2,000 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $101,300 Polyester filling 140,800 Lumber 277,600 Glue 9,600 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $38,500 $48,500 $129,700 $216,700 Job 602 29,600 52,700 113,600 195,900 Job 603 27,300 35,800 63,100 126,200 Factory overhead-indirect materials $5,000 5,000 Total $95,400 $137,000 $306,400 $5,000 $543,800 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. 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 $ $ $ $

Homework Answers

Answer #1
a) General Journal Debit Credit
Materials
Accounts Payable
$529,300 $529,300
(fo record the purchase of materials in April)
Workings:
Materials purchased:
Fabric $101,300
Polyester filling $140,800
Lwnbcr $277,600
Glue $9,600
$529,300
b)

Work in process

Debit
$538,800
Credit
Factory overhead 5,000
Materials $5,43,800
(to record the requisition of materials in Apnl)

(c)

- Fabric Polyester filling Lumber Glue
Balance, April I $20,800 $6,200   $46,600 $2,000
Purchase during April $101,300 $140,800 $277,600 $9,600
Less:requisition $122,100
$95,400
$147,000 $324,200 $11,600
$137,000 $306,400 $5,000
Balance, April 30 $26,700 $10,000   $17,800 $6,600
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
ntries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost...
ntries 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 $20,800 Polyester filling 6,200 Lumber 46,600 Glue 2,000 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $101,300 Polyester filling 140,800 Lumber 277,600 Glue 9,600 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $38,500 $48,500 $129,700...
Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost...
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 $30,400 Polyester filling 9,100 Lumber 68,100 Glue 2,900 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $146,500 Polyester filling 203,600 Lumber 401,400 Glue 13,900 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $55,700 $70,200 $187,700...
Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on...
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 $31,500 Polyester filling 9,500 Lumber 70,600 Glue 3,000 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $155,300 Polyester filling 215,900 Lumber 425,500 Glue 14,800 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $59,000 $74,300 $198,800 $332,100 Job 602...
Entries for Materials GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system....
Entries for Materials GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric $21,300 Polyester filling 6,400 Lumber 47,700 Glue 2,000 The materials purchased during June are summarized from the receiving reports as follows: Fabric $105,000 Polyester filling 146,000 Lumber 287,700 Glue 10,000 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $37,800 $47,600 $127,400 $212,800 Job 602...
Entries for Materials GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system....
Entries for Materials GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric $31,300 Polyester filling 9,400 Lumber 70,100 Glue 3,000 The materials purchased during June are summarized from the receiving reports as follows: Fabric $157,100 Polyester filling 218,400 Lumber 430,500 Glue 14,900 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $58,100 $73,200 $195,800 $327,100 Job 602...
Entries for Materials GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system....
Entries for Materials GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric $19,000 Polyester filling 5,700 Lumber 42,600 Glue 1,800 The materials purchased during June are summarized from the receiving reports as follows: Fabric $94,200 Polyester filling 130,900 Lumber 258,100 Glue 8,900 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $34,900 $44,000 $117,600 $196,500 Job 602...
GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on...
GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric   $ 66,590 Polyester filling   19,430 Lumber   153,410 Glue   6,060 The materials purchased during June are summarized from the receiving reports as follows: Fabric   $338,750 Polyester filling   474,360 Lumber   909,440 Glue   33,420 Materials were requisitioned to individual jobs as follows: Fabric   Polyester Filling   Lumber   Glue   Total Job 601   $128,580   $159,190   $401,640       $ 689,410 Job...
GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June...
GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric $ 65,160 Polyester filling 20,510 Lumber 146,280 Glue 6,250 The materials purchased during June are summarized from the receiving reports as follows: Fabric $337,960 Polyester filling 465,070 Lumber 909,240 Glue 33,520 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $128,630 $162,960 $403,330 $ 694,920 Job 602 98,660...
Entries for Costs in a Job Order Cost System Royal Technology Company uses a job order...
Entries for Costs in a Job Order Cost System Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March: Materials purchased on account, $770,000. Materials requisitioned, $680,000, of which $75,800 was for general factory use. Factory labor used, $756,000, of which $182,000 was indirect. Other costs incurred on account for factory overhead, $245,000; selling expenses, $171,500; and administrative expenses, $110,600. Prepaid expenses expired for factory overhead were $24,500; for selling...
Entries and Schedules for Unfinished Jobs and Completed Jobs Mellow Company uses a job order cost...
Entries and Schedules for Unfinished Jobs and Completed Jobs Mellow Company uses a job order cost system. The following data summarize the operations related to production for April, the first month of operations: Materials purchased on account, $3,170. Materials requisitioned and factory labor used: Job No. Materials Factory Labor 101 $3,030 $3,160 102 3,700 4,270 103 2,450 2,090 104 8,300 7,840 105 5,270 5,970 106 3,850 3,790 For general factory use 1,030 4,680 Factory overhead costs incurred on account, $5,790....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT