Question:
Combes Furniture Company manufactures furniture. Combes uses a job order cost system. Balances on November 1 from the materials ledger are as follows:
|
Fabric
|
$ 33,500
|
|
Polyester filling
|
8,100
|
|
Lumber
|
107,400
|
|
Glue
|
1,600
|
The materials purchased during November are summarized from the receiving reports as follows:
|
Fabric
|
$549,900
|
|
Polyester filling
|
104,200
|
|
Lumber
|
969,500
|
|
Glue
|
14,200
|
Materials were requisitioned to individual jobs as follows:
|
|
|
Polyester
|
|
|
|
|
|
Fabric
|
Filling
|
Lumber
|
Glue
|
Total
|
|
Job 11
|
$362,200
|
$64,500
|
$611,300
|
|
$1,038,000
|
|
Job 12
|
121,700
|
13,900
|
198,600
|
|
334,200
|
|
Job 13
|
67,800
|
10,300
|
182,400
|
|
260,500
|
|
Factory overhead-indirect
|
|
|
|
|
|
|
materials
|
|
|
|
$11,700
|
11,700
|
|
Total
|
$551,700
|
$88,700
|
$992,300
|
$11,700
|
$1,644,400
|
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 November.
b. Journalize the entry to record the requisition of materials in November.
c. Determine the November 30 balances that would be shown in the materials ledger accounts.