Bullock Furniture Company manufactures furniture. Bullock uses a job order cost system. Balances on June 1 from
Question:
Bullock Furniture Company manufactures furniture. Bullock uses a job order cost system. Balances on June 1 from the materials ledger are as follows:Fabric $25,000Polyester filling 7,500Lumber 56,000Glue 2,400The materials purchased during June are summarized from the receiving reports as follows:Fabric $126,000Polyester filling 175,000Lumber 345,000Glue 12,000Materials 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 June.b. Journalize the entry to record the requisition of materials in June.c. Determine the June 30 balances that would be shown in the materials ledgeraccounts.
Step by Step Answer:
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren