Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses job order costing...
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Accounting
Entries for Materials
Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses job order costing 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:
Item
Amount
Fabric
$820,000
Polyester filling
315,000
Lumber
555,000
Glue
80,000
Materials were requisitioned to individual jobs as follows:
Fabric
PolyesterFilling
Lumber
Glue
Total
Job 601
$190,000
$66,200
$118,500
$374,700
Job 602
365,000
152,100
219,300
736,400
Job 603
255,000
101,700
196,200
552,900
Factory overhead-indirect materials
$83,600
83,600
Total
$810,000
$320,000
$534,000
$83,600
$1,747,600
The glue is not a significant cost, so it is treated as indirect materials (factory overhead).
Question Content Area
a. Journalize the entry to record the purchase of materials in April. If an amount box does not require an entry, leave it blank.
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