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Entries for Materials GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger
Entries for Materials GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric Polyester filling Lumber Glue $23,900 7,200 53,500 2,300 The materials purchased during June are summarized from the receiving reports as follows: Fabric Polyester filling Lumber Glue $121,200 168,500 332,100 11,500 Materials were requisitioned to individual jobs as follows: Fabric Job 601 $44,800 Polyester Filling $56,400 $151,000 Lumber Glue Total $252,200 Job 602 34,500 Job 603 31,800 61,400 132,200 41,700 73,500 228,100 147,000 Factory overhead-indirect materials $5,800 5,800 Total $111,100 $159,500 $356,700 $5,800 $633,100 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 June. a. b. Journalize the entry to record the requisition of materials in June. If an amount box does not require an entry, leave it blank. b. c. Determine the June 30 balances that would be shown in the materials ledger accounts. Balance, June 30 Fabric Polyester Filling Lumber Glue
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