Question
GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: The
GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows:
The materials purchased during June are summarized from the receiving reports as follows:
Materials were requisitioned to individual jobs as follows:
The glue is not a significant cost, so it is treated as indirect materials (factory overhead).
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Journalize the entry to record the purchase of materials in June.
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Journalize the entry to record the requisition of materials in June.
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Determine the June 30 balances that would be shown in the materials ledger accounts.
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