Materials were requisitioned to individual jobs as follows: Polyester Filling Total Fabric $205,000 Lumber Glue Job 601 $ 75,000 $120,000 $400,000 Job 602 110,000 36,000 88,000 234,000 Job 603 130,000 55,000 125,000 310,000 Factory overhead-indirect materials $34,800 $34,800 34,800 Total $445,000 $166,000 $33,000 $978,800 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. b. Journalize the entry to record the requisition of materials in June. c. Determine the June 30 balances that would be shown in the materials ledger accounts.

Materials were requisitioned to individual jobs as follows: Polyester Filling Total Fabric $205,000 Lumber Glue Job 601 $ 75,000 $120,000 $400,000 Job 602 110,000 36,000 88,000 234,000 Job 603 130,000 55,000 125,000 310,000 Factory overhead-indirect materials $34,800 $34,800 34,800 Total $445,000 $166,000 $33,000 $978,800 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. b. Journalize the entry to record the requisition of materials in June. c. Determine the June 30 balances that would be shown in the materials ledger accounts.

Name: Entries for materialsGenX Furnishings manufactures designer furniture.
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Description: Entries for materialsGenX Furnishings manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows:Fabric $40,500Polyester filling28,600Lumber62,400Glue6,550The materials

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 11PA: Lampierre makes brass and gold frames. The company computed this information to decide whether to...

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