Question
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
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 | $26,400 |
Polyester filling | 7,900 |
Lumber | 59,100 |
Glue | 2,500 |
The materials purchased during June are summarized from the receiving reports as follows:
Fabric | $131,700 |
Polyester filling | 183,100 |
Lumber | 360,900 |
Glue | 12,500 |
Materials were requisitioned to individual jobs as follows:
Fabric | Polyester Filling | Lumber | Glue | Total | ||||||
Job 601 | $48,700 | $61,400 | $164,100 | $274,200 | ||||||
Job 602 | 37,500 | 66,700 | 143,700 | 247,900 | ||||||
Job 603 | 34,600 | 45,300 | 79,900 | 159,800 | ||||||
Factory overhead-indirect materials | $6,300 | 6,300 | ||||||||
Total | $120,800 | $173,400 | $387,700 | $6,300 | $688,200 |
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. If an amount box does not require an entry, leave it blank.
a. | fill in the blank 2055760c704a027_2 | fill in the blank 2055760c704a027_3 | |
fill in the blank 2055760c704a027_5 | fill in the blank 2055760c704a027_6 |
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. | fill in the blank d5f5b70b5032069_2 | fill in the blank d5f5b70b5032069_3 | |
fill in the blank d5f5b70b5032069_5 | fill in the blank d5f5b70b5032069_6 | ||
fill in the blank d5f5b70b5032069_8 | fill in the blank d5f5b70b5032069_9 |
c. Determine the June 30 balances that would be shown in the materials ledger accounts.
Fabric | Polyester Filling | Lumber | Glue | |
Balance, June 30 | $fill in the blank f84928f51fd9fba_1 | $fill in the blank f84928f51fd9fba_2 | $fill in the blank f84928f51fd9fba_3 | $fill in the blank f84928f51fd9fba_4 |
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