Entries for Materials
GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a A type of cost accounting system that provides for a separate record of the cost of each particular quantity of product that passes through the factory.job order cost system. Balances on June 1 from the The subsidiary ledger containing the individual accounts for each type of material.materials ledger are as follows:
Fabric | $23,800 |
Polyester filling | 7,100 |
Lumber | 53,300 |
Glue | 2,300 |
The materials purchased during June are summarized from the The form or electronic transmission used by the receiving personnel to indicate that materials have been received and inspected.receiving reports as follows:
Fabric | $114,500 |
Polyester filling | 159,200 |
Lumber | 313,700 |
Glue | 10,900 |
Materials were requisitioned to individual jobs as follows:
Fabric | Polyester Filling | Lumber | Glue | Total | ||||||
Job 601 | $43,500 | $54,800 | $146,600 | $244,900 | ||||||
Job 602 | 33,500 | 59,600 | 128,300 | 221,400 | ||||||
Job 603 | 30,900 | 40,500 | 71,300 | 142,700 | ||||||
Factory overhead-indirect materials | $5,700 | 5,700 | ||||||||
Total | $107,900 | $154,900 | $346,200 | $5,700 | $614,700 |
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.
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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.
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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 | $ | $ | $ | $ |
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Entries for Materials GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a A type of...
Entries for Materials GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric $21,800 Polyester filling 6,500 Lumber 48,800 Glue 2,100 The materials purchased during June are summarized from the receiving reports as follows: Fabric $107,000 Polyester filling 148,700 Lumber 293,200 Glue 10,200 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $40,700 $51,300 $137,200 $229,200 Job...
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 $29,300 Polyester filling 8,800 Lumber 65,600 Glue 2,800 The materials purchased during June are summarized from the receiving reports as follows: Fabric $148,000 Polyester filling 205,700 Lumber 405,500 Glue 14,100 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $56,200 $70,800 $189,400 $316,400 Job 602...
GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric $27,800 Polyester filling 8,300 Lumber 62,300 Glue 2,700 The materials purchased during June are summarized from the receiving reports as follows: Fabric $137,600 Polyester filling 191,300 Lumber 377,000 Glue 13,100 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $49,500 $62,400 $166,800 $278,700 Job 602 38,100 67,800...
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 $ 65,800 Polyester filling 20,920 Lumber 152,000 Glue 6,250 The materials purchased during June are summarized from the receiving reports as follows: Fabric $338,880 Polyester filling 474,200 Lumber 908,030 Glue 34,620 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $129,730 $164,460 $404,530 $698,720 Job 602 99,370 141,320...
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 $40,500 Polyester filling 28,600 Lumber 62,400 Glue 6,550 The materials purchased during June are summarized from the receiving reports as follows: Fabric $440,000 Polyester filling 180,000 Lumber 360,000 Glue 40,000 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $205,000 $ 75,000 $120,000 $400,000 Job 602 110,000 36,000...
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...
Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials ledger are as follows: Fabric $26,800 Polyester filling 8,000 Lumber 60,000 Glue 2,600 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $134,300 Polyester filling 186,700 Lumber 368,000 Glue 12,800 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $48,300 $60,900 $162,800...
Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials ledger are as follows: Fabric $23,100 Polyester filling 6,900 Lumber 51,700 Glue 2,200 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric Polyester filling $114,300 158,900 313,200 10,900 Lumber Glue Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 Job 602 Job...
Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on April 1 from materials ledger are as follows: Fabric $22,300 Polyester filling 6,700 Lumber 50,000 Glue 2,100 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $114,800 Polyester filling 159,600 Lumber 314,600 Glue 10,900 Materials were requisitioned to individual Jobs as follows: Polyester Fabric Lumber Glue Total Filling $41,300 Job 601 $52,000 $139,200 $232,500...
Entries for Materials Kingsford Furnishings Company manufactures designer furniture Kingsford Furnishings uses a job order cost system. Balances on April 1 from the materials ledger are as follows $22.400 Fabric Polyester filing Lumber 6,700 50,200 Gle 2200 The materials purchased during April on account are d from the receiving reports as follows Fabric Polyester filling $112.000 155,700 306,900 Lumber Glue 10600 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filing Lumber Glue Total $52,200 $41,400 31,900 29.400 $139,500...