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	$ 67,190
Polyester filling	19,100
Lumber	148,690
Glue	6,640

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

Fabric	$336,430
Polyester filling	470,450
Lumber	909,970
Glue	34,360

Materials were requisitioned to individual jobs as follows:

	Fabric	Polyester Filling	Lumber	Glue	Total
Job 601	$126,170	$157,080	$401,840		$ 685,090
Job 602	98,480	143,200	374,960		616,640
Job 603	93,500	115,630	206,150		415,280
Factory overheadindirect materials				$34,320	34,320
Total	$318,150	$415,910	$982,950	$34,320	$1,751,330

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

Required:

A.

Journalize the June 1 entry to record the purchase of materials in June.*

B.

Journalize the June 3 entry to record the requisition of materials in June.*

C.

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

*Refer to the Chart of Accounts for exact wording of account titles.

Journal

A.

Journalize the June 1 entry to record the purchase of materials in June.*

B.

Journalize the June 3 entry to record the requisition of materials in June.*

*	Refer to the Chart of Accounts for exact wording of account titles.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5

Final Question

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

	Fabric	Polyester Filling	Lumber	Glue
Balance, June 30