Question

eBook Show Me How Calculator 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 $26,100 Polyester filling 7,800 Lumber 58,500 Glue 2,500 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric Polyester filling Lumber $127,900 177,800 350,400 Glue 12,200 Materials were requisitioned to individual jobs as follows: Fabrich Polyester Filling Lumber Glue Total Job 601 $61,200 $ 163,800 $273,600 $48,600 37,400 Job 602 66,600 143,400 247,400 34,500 45,200 79,700 159,400 Job 603 Factory overhead-indirect materials $6,300 6,300 < Previous Next Check My Work

Answer 1

(a)
Account titles and Explanations	Debit	Credit
Materials	$ 668,300
Accounts Payable		$ 668,300
(To record the purchase of Materials )
(b)
Account titles and Explanations	Debit	Credit
Work in Process	$ 680,400
Factory Overhead	$ 6,300
Materials		$ 686,700
(To record the requisition of Materials )
c)
	Fabric	Polyester Filling	Lumber	Glue	Total
Beginning balance	$ 26,100	$ 7,800	$ 58,500	$ 2,500	$ 94,900
Add : Material Purchases	$ 127,900	$ 177,800	$ 350,400	$ 12,200	$ 668,300
Less : Materials requisitioned	($ 120,500 )	($ 173,000)	($ 386,900)		($ 680,400)
Less : Indirect Materials				($ 6,300)	($ 6,300)
Balance, April 30:	$ 33,500	$ 12,600	$ 22,000	$ 8,400	$ 76,500