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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 ledger are
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 Polyester filling Lumber Glue The materials purchased during June are summarized from the receiving reports as follows: Fabric Polyester filling Lumber Glue Materials were requisitioned to individual jobs as follows: $28,300 8.500 63,400 2,700 $145,200 201,800 397,800 13,800 Polyester Filling Fabric $52,300 40,300 37,100 Lumber $65,900 $176,300 71.700 154,300 85,800 Glue Total Job 601 Job 602 Job 603 Factory overhead- indirect materials Total The glue is not a significant cost, so it is treated as indirect materials (factory overhead) $294,500 266,300 48,600 171,500 $6,800 6,800 $129,700 $186,200 $416,400 $6,800 $739,100 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 umber Glue Balance, June 30
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