Entries for Materials

GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows:

Fabric	$31,800
Polyester filling	9,500
Lumber	71,200
Glue	3,100

The materials purchased during June are summarized from the receiving reports as follows:

Fabric	$161,200
Polyester filling	224,100
Lumber	441,700
Glue	15,300

Materials were requisitioned to individual jobs as follows:

	Fabric		Polyester Filling		Lumber		Glue		Total
Job 601	$59,600		$75,100		$200,900				$335,600
Job 602	45,900		81,700		175,800				303,400
Job 603	42,300		55,400		97,700				195,400
Factory overhead-indirect materials							$7,700		7,700
Total	$147,800		$212,200		$474,400		$7,700		$842,100

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.	Materials
	Accounts Payable

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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.	Work in Process
	Factory Overhead
	Materials

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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	$	$	$	$