1. Entries for Materials

   GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a A type of cost accounting system that provides for a separate record of the cost of each particular quantity of product that passes through the factory.job order cost system. Balances on June 1 from the The subsidiary ledger containing the individual accounts for each type of material.materials ledger are as follows:

   Fabric	$23,800
   Polyester filling	7,100
   Lumber	53,300
   Glue	2,300

   The materials purchased during June are summarized from the The form or electronic transmission used by the receiving personnel to indicate that materials have been received and inspected.receiving reports as follows:

   Fabric	$114,500
   Polyester filling	159,200
   Lumber	313,700
   Glue	10,900

   Materials were requisitioned to individual jobs as follows:

   	Fabric		Polyester Filling		Lumber		Glue		Total
   Job 601	$43,500		$54,800		$146,600				$244,900
   Job 602	33,500		59,600		128,300				221,400
   Job 603	30,900		40,500		71,300				142,700
   Factory overhead-indirect materials							$5,700		5,700
   Total	$107,900		$154,900		$346,200		$5,700		$614,700

   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.	Accounts Payable Cash Factory Overhead Finished Goods Materials Work in Process
   	Accounts Payable Cash Factory Overhead Finished Goods Materials Work in Process

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   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.	Accounts Payable Accounts Receivable Cash Finished Goods Materials Work in Process
   	Accounts Payable Accounts Receivable Cash Factory Overhead Finished Goods Materials
   	Accounts Payable Cash Factory Overhead Finished Goods Materials Work in Process

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   c. Determine the June 30 balances that would be shown in the materials ledger accounts.

   	Fabric	Polyester Filling	Lumber	Glue
   Balance, June 30	$	$	$	$

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