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Entries for materials Eclectic Ergonomics Company manufactures designer furniture. Eclectic Ergonomics uses a job order cost system. Balances on April 1 from the materials ledger are as follows: Fabric $67,500 Polyester filling 20,200 Lumber 150,000 Glue 6,550 The materials purchased during April are summarized from the receiving reports as follows: Fabric $338,400 Polyester filling 470,400 Lumber 902,400 Glue 32,400 Materials were requisitioned to individual jobs as follows: 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. b. Journalize the entry to record the requisition of materials in April. c. Determine the April 30 balances that would be shown in the materials ledger accounts.

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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285743615

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Chapter
Section
BuyFindarrow_forward

Accounting (Text Only)

26th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781285743615
Chapter 19, Problem 19.5EX
Textbook Problem
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Entries for materials

Eclectic Ergonomics Company manufactures designer furniture. Eclectic Ergonomics uses a job order cost system. Balances on April 1 from the materials ledger are as follows:

Fabric $67,500
Polyester filling 20,200
Lumber 150,000
Glue 6,550

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

Fabric $338,400
Polyester filling 470,400
Lumber 902,400
Glue 32,400

Materials were requisitioned to individual jobs as follows:

Chapter 19, Problem 19.5EX, Entries for materials Eclectic Ergonomics Company manufactures designer furniture. Eclectic

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.

b. Journalize the entry to record the requisition of materials in April.

c. Determine the April 30 balances that would be shown in the materials ledger accounts.

To determine

Issuance of materials

The material storeroom releases raw materials for used in manufacturing process when a material requisition is received. The summary of material requisition aids as a basis for recording materials used in the process.

To Record: Journal entry for purchase of materials.

Explanation of Solution

The materials purchased during the month are prepared by taking consideration the quantity received which is mentioned in the receiving report...

(b)

To determine

To Record: Journal entry for requisition and issuance of materials.

(c)

To determine

The ending balance of material ledger account as on April 30.

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Chapter 19 Solutions

Accounting (Text Only)
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Ch. 19 - Issuance of materials On April 6, Almerinda...Ch. 19 - Issuance of materials On August 4, Rothchild...Ch. 19 - Direct labor costs During April, Almerinda Company...Ch. 19 - Direct labor costs During August, Rothchild...Ch. 19 - Factory overhead costs During April, Almerinda...Ch. 19 - Factory overhead costs During August, Rothchild...Ch. 19 - Applying factory overhead Almerinda Company...Ch. 19 - Applying factory overhead Rothchild Company...Ch. 19 - Job costs At the end of April, Almerinda Company...Ch. 19 - Job costs At the end of August, Rothchild Company...Ch. 19 - Cost of goods sold Hosmer Company completed...Ch. 19 - Cost of goods sold Skeleton Company completed...Ch. 19 - Transactions in a job order cost system Five...Ch. 19 - Cost flow relationships The following information...Ch. 19 - Cost of materials issuances under the FIFO method...Ch. 19 - Entry for issuing materials Materials issued for...Ch. 19 - Entries for materials Eclectic Ergonomics Company...Ch. 19 - Entry for factory labor costs A summary of the...Ch. 19 - Entry for factory labor costs The weekly time...Ch. 19 - Entries for direct labor and factory overhead Dash...Ch. 19 - Factory overhead rates, entries, and account...Ch. 19 - Predetermined factory overhead rate Spring Street...Ch. 19 - Predetermined factory overhead rate Poehling...Ch. 19 - Entry for jobs completed; cost of unfinished jobs...Ch. 19 - Entries for factory costs and jobs completed Old...Ch. 19 - Financial statements of a manufacturing firm The...Ch. 19 - Decision making with job order costs Alvarez...Ch. 19 - Decision making with job order costs Raneri...Ch. 19 - Job order cost accounting for a Service company...Ch. 19 - Job order cost accounting for a service company...Ch. 19 - Entries for costs in a job order cost system...Ch. 19 - Entries and schedules for unfinished jobs and...Ch. 19 - Job order cost sheet Remnant Carpet Company sells...Ch. 19 - Analyzing manufacturing cost accounts Fire Rock...Ch. 19 - Flow of costs and income statement Ginocera Inc....Ch. 19 - Entries for costs in a job order cost system Royal...Ch. 19 - Entries and schedules for unfinished Jobs and...Ch. 19 - Job order cost sheet Stretch and Trim Carpet...Ch. 19 - Analyzing manufacturing cost accounts Clapton...Ch. 19 - Flow of costs and income statement Technology...Ch. 19 - Managerial analysis The controller of the plant of...Ch. 19 - Job order decision making and rate deficiencies...Ch. 19 - Factory overhead rate Salvo Inc., a specialized...Ch. 19 - Recording manufacturing costs Todd Lay just began...Ch. 19 - Predetermined overhead rates As an assistant cost...

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