Entries for Materials

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

Fabric $26,500

Polyester filling $8,000

Lumber $59,400

Glue $2,500

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

Fabric $131,200

Polyester filling $182,400

Lumber $359,500

Glue $12,500

Materials were requisitioned to individual jobs as follows:

Fabric Polyester Filling Lumber Glue Total

Job 601. $47,200 $59,500 $159,100 $265,800

Job 602. 36,300 64,700 139,200 240,200

Job 603. 33,500 43,900 77,400 154,800

Factory overhead-indirect materials $6,100 6,100

Total $117,000 $168,100 $375,700 $6,100 $666,900

The glue is not a significant cost, so it is treated as indirect materials (factory overhead).

Journalize the entry to record the purchase of materials in June. If an amount box does not require an entry, leave it blank.

a. _____ _____

______ _____

Journalize the entry to record the requisition of materials in June. If an amount box does not require an entry, leave it blank.

b. _____ ______

_____ ______

_____ _____

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

Fabric Polyester Filling Lumber Glue

Balance, June 30