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...............................$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:

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.

Transcribed Image Text:

Polyester Filling Fabric Lumber Glue Total Job 601 Job 602 Job 603 Factory overhead-indirect $400,000 234,000 310,000 $205,000 75,000 $120,000 110,000 130,000 36,000 55,000 88,000 125,000 materials Total 34,800 445,000 $166,000 $333,000 $34,800 $978,800 $34,800