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 $18,900 Polyester filling 5,700 Lumber 42,300 Glue 1,800 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $94,100 Polyester filling 130,800 Lumber 257,800 Glue 8,900 Materials were requisitioned to individual jobs as follows:   Fabric Polyester Filling Lumber Glue Total Job 601 $35,800   $45,100   $120,600     $201,500   Job 602 27,600   49,000   105,600     182,200   Job 603 25,400   33,300   58,700     117,400   Factory overhead-indirect materials             $4,700   4,700   Total $88,800   $127,400   $284,900   $4,700   $505,800   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. Materials  fill in the blank 8d9001fd4fa006c_2 fill in the blank 8d9001fd4fa006c_3     fill in the blank 8d9001fd4fa006c_5 fill in the blank 8d9001fd4fa006c_6 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.   fill in the blank e21d5d00606cfef_2 fill in the blank e21d5d00606cfef_3     fill in the blank e21d5d00606cfef_5 fill in the blank e21d5d00606cfef_6     fill in the blank e21d5d00606cfef_8 fill in the blank e21d5d00606cfef_9 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 6c22a408301401d_1 $fill in the blank 6c22a408301401d_2 $fill in the blank 6c22a408301401d_3 $fill in the blank 6c22a408301401d_4

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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:

Fabric $18,900
Polyester filling 5,700
Lumber 42,300
Glue 1,800

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

Fabric $94,100
Polyester filling 130,800
Lumber 257,800
Glue 8,900

Materials were requisitioned to individual jobs as follows:

  Fabric Polyester Filling Lumber Glue Total
Job 601 $35,800   $45,100   $120,600     $201,500  
Job 602 27,600   49,000   105,600     182,200  
Job 603 25,400   33,300   58,700     117,400  
Factory overhead-indirect materials             $4,700   4,700  
Total $88,800   $127,400   $284,900   $4,700   $505,800  

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. Materials  fill in the blank 8d9001fd4fa006c_2 fill in the blank 8d9001fd4fa006c_3
    fill in the blank 8d9001fd4fa006c_5 fill in the blank 8d9001fd4fa006c_6

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.   fill in the blank e21d5d00606cfef_2 fill in the blank e21d5d00606cfef_3
    fill in the blank e21d5d00606cfef_5 fill in the blank e21d5d00606cfef_6
    fill in the blank e21d5d00606cfef_8 fill in the blank e21d5d00606cfef_9

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 6c22a408301401d_1 $fill in the blank 6c22a408301401d_2 $fill in the blank 6c22a408301401d_3 $fill in the blank 6c22a408301401d_4
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