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	$21,300
Polyester filling	6,400
Lumber	47,700
Glue	2,000

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

Fabric	$105,000
Polyester filling	146,000
Lumber	287,700
Glue	10,000

Materials were requisitioned to individual jobs as follows:

	Fabric		Polyester Filling		Lumber		Glue		Total
Job 601	$37,800		$47,600		$127,400				$212,800
Job 602	29,100		51,800		111,500				192,400
Job 603	26,800		35,200		62,000				124,000
Factory overhead-indirect materials							$4,900		4,900
Total	$93,700		$134,600		$300,900		$4,900		$534,100

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	$	$	$	$