Question

Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from materials ledger are as follows: Fabric $22,300 Polyester filling 6,700 Lumber 50,000 Glue 2,100 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $114,800 Polyester filling 159,600 Lumber 314,600 Glue 10,900 Materials were requisitioned to individual Jobs as follows: Polyester Fabric Lumber Glue Total Filling $41,300 Job 601 $52,000 $139,200 $232,500 31,800 Job 602 56,600 210.200 121,800 38,400 29,300 67,700 135,400 Job 603 Factory overhead-indirect $5,400 5,400 materials $102,400 $147,000 $328,700 $5,400 $583,500 Total

Answer 1

a.) Journal Entry: General Journal Debit Credit Materials $599.900 Accounts Payable $599,900 (To record the purchase of materials in April) Workings: Materials purchased: Fabric Polyester filling Lumber Glue $114,800 $159,600 $314.600 $10.900 $599,900 b) General Journal Debit Credit Work in process $578.100 Factory overhead $5,400 Materials $583,500 (To record the requisition of materials in April) Fabric Polyester Lumber Glue filling Balance, April 30 $34,700 $19,300 $35,900 $7,600 Workings: Fabric Balance, April 1 Purchase during April $22,300 $114.800 $137.100 $102.400 $34.700 Polyester Lumber Glue filling $6,700 $50,000 $2,100 $159.600 $314.600 $10,900 $166,300 $364.600 $13,000 $147,000 $328,700 $5,400 $19,300 $35,900 $7,600 Less: requisition Balance, April 30

Answer 2

entries for direct labor and factory overhead