GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from...

Question

Question

GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from...

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	377,410		618,100
Job 603	90,950	118,090	209,210		418,250
Factory overhead—indirect materials				$33,410	33,410
Total	$320,050	$423,870	$991,150	$33,410	$1,768,480

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.

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Jounel Entry Dale partieutas Rawmateral inventy 1755650 Debit credt Accont payob CR SS650 wlorkin proces fventoy |7 35070 fae hlorking Note Falric polyker LumkerGlue filliry tofal Balanee 24490 6 2SD 65800 20920 IS200D as on June material 33880D44200

Add a comment

Answer 2

Similar Homework Help Questions

GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on...

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...

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...

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 GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system....

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...
Entries for Materials GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost...

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...
Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost system. Balances on...

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 $27,300 Polyester filling 8,200 Lumber 61,200 Glue 2,600 The materials purchased during April on account are summarized from the receiving reports as follows: Fabric $137,000 Polyester filling 190,400 Lumber 375,400 Glue 13,000 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $50,700 $63,900 $170,900 $285,500 Job 602...

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 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...
Entries for Materials Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job order cost...

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...

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...

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...

GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from...

Homework Answers

Add Answer to:
GenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from...

Post as a guest

Earn Coins

GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on...