Homework Answers
17-5
| Account Titles | Debit | Credit | |
| Raw Material Inventory | $ 1,743,600 | =338400+470400+902400+32400 | |
| Accounts Payable | $ 1,743,600 | ||
| (Purchase of raw material on account) | |||
| Work in Process Inventory | $ 1,726,400 | =315800+424400+986200 | |
| Raw Material Inventory | $ 1,726,400 | ||
| (Issue of raw material to production) |
| Fabric | Polyester Filling | Lumber | Glue | Total | |
| Beginning Balance | $ 67,500 | $ 20,200 | $ 150,000 | $ 6,550 | $ 244,250 |
| Purchase of Material | $ 338,400 | $ 470,400 | $ 902,400 | $ 32,400 | $ 1,743,600 |
| Issued | $ -315,800 | $ -424,400 | $ -986,200 | $ -34,800 | $ -1,761,200 |
| Ending Balance | $ 90,100 | $ 66,200 | $ 66,200 | $ 4,150 | $ 226,650 |
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EX17-4. EX17-5. EX17-7. & EX17-8.pdf 5 - EX17-3, EX17-4, EX17-5, EX17-7, & EX17-8.pdf EX17-3. EX17-4, EX17-5,...
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Basic Exercises Exercises and Problems20200615_0055.pdf (174 KB) Page > of 5 ZOOM + ✓ c. fabric, $68,300 SHOW ME HOW EX 16-5 Entries for materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a Obj. 2 job order cost system. Balances on April 1 from the materials ledger are as follows: Fabric $58,300 Polyester filling 30,000 Lumber 58,800 Glue 9,950 The materials purchased during April are summarized from the receiving reports as follows: Fabric $820,000 Polyester filling 315,000 Lumber...
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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 $23,100 Polyester filling 6,900 Lumber 51,700 Glue 2,200 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric Polyester filling $114,300 158,900 313,200 10,900 Lumber Glue Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 Job 602 Job...
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 $26,800 Polyester filling 8,000 Lumber 60,000 Glue 2,600 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $134,300 Polyester filling 186,700 Lumber 368,000 Glue 12,800 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $48,300 $60,900 $162,800...
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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 $40,500 Polyester filling 28,600 Lumber 62,400 Glue 6,550 The materials purchased during June are summarized from the receiving reports as follows: Fabric $440,000 Polyester filling 180,000 Lumber 360,000 Glue 40,000 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $205,000 $ 75,000 $120,000 $400,000 Job 602 110,000 36,000...
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eBook Show Me How Calculeb Print Item Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 81 Job 82 $43,900 33,800 31,200 $55,300 60,100 40,800 $147,900 129,500 72,000 $247,100 223,400 144,000 Job 83 Factory overhead-indirect materials $5,700 5,700 Total $108,900 $156,200 $349,400 $5,700 $620,200 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 on account in April...
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G Google Pas Enter your p "helen.nguye ΒΙΣ ΑΑ Fabric Polyester filling Lumber Glue $40.500 28,600 62.400 6,550 The materials purchased during June are summarized from the receiving reports as follows: Fabric Polyester filling Lumber Glue $440,000 180,000 360,000 40,000 Materials were requisitioned to individual jobs as follows: Glue Fabris $205,000 110,000 130.000 Job 601 Job 602 Job 603 Factory overhead-indirect materials Total Polyester Filling $ 75,000 36,000 55,000 Lumber $120,000 89,000 125.000 Total $400,000 234.000 310.000 $34,800 34.800 $445,000...
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 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...
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 $27,300 Polyester filling 8,200 Lumber 61,200 Glue 2,600 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $137,000 Polyester filling 190,400 Lumber 375,400 Glue 13,000 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $50,700 $63,900 $170,900 $285,500 Job 602...
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Basic Exercises Exercises and Problems20200615_0055.pdf (174 KB) Page > of 5 ZOOM + ✓ c. fabric, $68,300 SHOW ME HOW EX 16-5 Entries for materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a Obj. 2 job order cost system. Balances on April 1 from the materials ledger are as follows: Fabric $58,300 Polyester filling 30,000 Lumber 58,800 Glue 9,950 The materials purchased during April are summarized from the receiving reports as follows: Fabric $820,000 Polyester filling 315,000 Lumber...
OBJ. 2 EX 17-3 Cost of materials issuances under the FIFO method An incomplete subsidiary ledger of materials inventory for May is as follows: RECEIVED ISSUED BALANCE Receiving Roport Number Quantity Materials Unit Requisition Price 1 Number Quantity Amount Quantity 285 Unit Price Amount $30.00 $8,550 130 110 $32.00 38.00 Date May 1 May 4 May 10 May 21 May 27 91 365 97100 a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. b. Determine...
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 $23,100 Polyester filling 6,900 Lumber 51,700 Glue 2,200 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric Polyester filling $114,300 158,900 313,200 10,900 Lumber Glue Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 Job 602 Job...
eBook Show Me How Calculeb Print Item Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 81 Job 82 $43,900 33,800 31,200 $55,300 60,100 40,800 $147,900 129,500 72,000 $247,100 223,400 144,000 Job 83 Factory overhead-indirect materials $5,700 5,700 Total $108,900 $156,200 $349,400 $5,700 $620,200 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 on account in April...
G Google Pas Enter your p "helen.nguye ΒΙΣ ΑΑ Fabric Polyester filling Lumber Glue $40.500 28,600 62.400 6,550 The materials purchased during June are summarized from the receiving reports as follows: Fabric Polyester filling Lumber Glue $440,000 180,000 360,000 40,000 Materials were requisitioned to individual jobs as follows: Glue Fabris $205,000 110,000 130.000 Job 601 Job 602 Job 603 Factory overhead-indirect materials Total Polyester Filling $ 75,000 36,000 55,000 Lumber $120,000 89,000 125.000 Total $400,000 234.000 310.000 $34,800 34.800 $445,000...
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