Entries for materials Instructions Chart of Accounts Journal Final Question X In

Question

Entries for materials

Instructions

Chart of Accounts

Journal

Final Question

X

Instructions

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:

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

Materials were requisitioned to individual jobs as follows:

The glue is not a significant cost, so it is treated as indirect materials (factory overhead).

Required:

X

Journal

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JOURNAL

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Explanation / Answer

Journal Entries: S.No. Accounts title and explanations Debit $ Credit $ A. Raw material Inventory Dr.    1,751,210       Accounts payable 1,751,210 B. Work in Process Inventory Dr. 1717010 Manufacturing OH Account Dr. 34320        Raw material Inventory Account 1,751,330 Ending balance of material Ledger on April30 FABRIC POLYESTER LUMBER GLUE TOTAL Beginning balance 67190 19100 148690 6640 241,620 Add: Purchases 336430 470450 909970 34360 1,751,210 Total Raw material available 403620 489550 1058660 41000 1992830 Less: Issued to production 318,150 415,910 982,950 34,320 1,751,330 Ending Balance in Raw material 85,470 73,640 75,710 6,680 241,500

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