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Entries for Materials GenX Furnishings manufactures designer furniture GenX Furnishings uses a job order cost system. Balances on June 1 from the materials fedger are
Entries for Materials GenX Furnishings manufactures designer furniture GenX Furnishings uses a job order cost system. Balances on June 1 from the materials fedger are as follows: Fabric $27,200 Polyester filling 8,200 Lumber 60,900 Glue 2,600 The materials purchased during June are summarized from the receiving reports as follows: Fabric $138.400 Polyester filling 192,400 Lumber 379,200 Glue 13,100 Materials were requisitioned to individual jobs as follows: Polyester Fabric Filling Lumber Glue Total Job 601 $49,800 $62,700 $167,800 $280,300 Job 602 38,300 68,200 146,900 253,400 Job 603 35,400 46,300 81,700 163,400 Factory overhead-indirect materials $6,500 6,500 Total $123,500 $177,200 $396,400 $6,500 $703,600 The glue is not a significant cost, so it is treated as indirect materials (factory overhead). Polyester Fabric Filling Lumber Glue Total Job 601 $49,800 $62,700 $167,800 $280,300 Job 602 38,300 68,200 146,900 253,400 Job 603 35,400 46,300 81,700 163,400 Factory overhead-indirect $6,500 6,500 materials Total $123,500 $177,200 $396,400 $6,500 $703,600 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. 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. Fabric Polyester Filling Lumber Glue Balance, June 30
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