Gorman Furniture Company manufactures furniture. Gorman uses a job order cost sy

Question

Gorman Furniture Company manufactures furniture. Gorman uses a job order cost system. Balances on April 1 from the materials ledger are as follows: Fabric $40,000 Polyester filling 12,000 Lumber 89,500 Glue 3,900 The materials purchased during April are summarized from the receiving reports as follows: Fabric $201,600 Polyester filling 280,00 Lumber 550,000 Glue 19,500 Materials were requisitioned to individual jobs as follows: FABRIC Job 101: $76,000 Job 102: 58,400 Job 103: 54,000 TOTAL 188,400 POLYESTER Job 101: $ 96,000 Job 102: 86,400 Job 103: 70,500 TOTAL 252,900 LUMBER Job 101: $256,000 Job 102: 224,000 Job 103: 125,000 TOTAL 605,000 GLUE Factory overhead 20,800 (indirect materials) TOTAL 20,800 TOTAL: Job 101: (fabric, polyester, lumber) $428,000 Job 102: (fabric, polyester, lumber) 368,800 Job 103: (fabric, polyester, lumber) 249,500 Factory overhead: 20,800 (indirect materials) Total 1,067,100 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. If an amount box does not require an entry, leave it blank or enter zero ("0"). Work in process (debit) Factory overhead (debit) Materials (credit) c. Determine the April 30 balances that would be shown in the materials ledger accounts. Balance, April 30 Fabric $ Filling $ Lumber $ Glue $

Explanation / Answer

a. materials-1051100; accounts payable-1051100 b. work in progress-debit-1046300 factory overhead-debit-20800 materials-1067100 c. fabric-53200 filling-39100 lumber-34500 glue-2600

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