Journalizing materials transactions Dino's Specialty Clothing Inc. uses a job order cost system. A partial list of the accounts being maintained by the company, with their balances as of November 1, follows:

The following transactions were completed during the month of November:

a. Materials purchases during the month, $84,000.

b. Materials requisitioned during the month:
1. Direct materials, $57,000.
2. Indirect materials, $11,000.

c. Direct materials returned by factory to storeroom during the month, $1,100.

d. Materials returned to vendors during the month prior to payment, $3,500.

e. Payments to vendors during the month, $63,500.

Required:
1. Prepare general journal entries for each of the transactions.
2. Post the general journal entries to T-accounts.
3. Balance the accounts and report the balances of November 30 for the following:

a. Cash

b. Materials

c. Accounts Payable

Transcribed Image Text:

Cash Materials $82,250 29,500 Work in process 27,000 Accounts payable (credit) 21,000 Factory overhead none