Entries for Materials GenX Furnishings Company manufactures designer furniture. GenX Furnishings use

 
   

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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 $22,500 Polyester filling 6,800 Lumber 50,400 Glue 2,200 The materials purchased during June are summarized from the receiving reports as follows: Fabric $113,200 Polyester filling 157,300 Lumber 310,200 Glue 10,800 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $41,900 $52,800 $141,200 $235,900 Job 602 32,300 5 7,400 123,600 213,300 Job 603 29,700 39,000 68,700 137,400 Factory overhead-indirect materials $5,400 5,400 Total $103,900 $149,200 $333,500 $5,400 $592,000 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. If an amount box does not require an entry leave it blank c. Determine the June 10 balances that would be shown in the materials ledger accounts Fabric Polyester Filling Lumber Glue Fabric Polyester Filling Lumber Glue Total Job 601 $41,900 Job 602 32,300 29,700 $52,800 57,400 39,000 $141,200 123,600 68,700 $235,900 213,300 137,400 Job 603 Factory overhead-indirect materials $5,400 5,400 Total $103,900 $149,200 $333,500 $5,400 $592,000 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 e c. Determine the June 30 balances that would be shown in the materials ledger accounts. Fabric Polyester Filling Lumber Glue Balance, June 30