Question

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		146,000				251,900
Job 603	35,100		46,000		81,200				162,300
Factory overhead-indirect materials							$6,400		6,400
Total	$122,700		$176,200		$394,000		$6,400		$699,300

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.

a.

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.

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

Fabric

Polyester Filling

Lumber

Glue

Answer 1

Answer? LA credit Debit $ 719,000 $719,000 Journalentries I Date particulars a materials we To Accounts payable $137600 +$191,300+$377,000 +$13,100] 1 bl work in process Alc o r | £$122,700 +$ 176,200 +$394,000] Factory overhead Ale To Materials $692,900 $6,400 $699,300 polyests Filling Lumber Glue $2,700 Fabric Balance April-1 $ 27,800 A poil purchase $137,600 Less April Requisitions $ 129,700 Balance in April 30 $42,700 $191,300 $176,200 $62,300 $377,000 $394,000 $ 45,300 $13100 $6,400 $23,400 $9,400