Entries for MaterlalsGenX 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 purchased during June are summarized from the receiving reports as follows:Fabric$440,000Polyester filling180,000Lumber360,000Glue40,000Materials were requisitioned to individual jobs as follows:PolyesterFabricFillingLumberGlueTotalDob 601$205,000$75,000$120,000$400,000Dob 602110,00036,00088,000234,000Dob 603130,00055,000125,000310,000Factory overhead-indirectmaterials$34,80034,800Total$445,000$166,000$333,000$34,800 $978,800The 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.Materialsa.Accounts Payableb. Journalize the entry to record the requisition of materials in June. If an amount box does not require an entry, leave it blank.b. Work in ProcessFactory OverheadMaterialsFeedbackCheck My Workb. Increase the work in process for direct materials for the Jobs and factory overhead for the indirect materials.c. Determine the June 30 balances that would be shown in the materials ledger accounts.FabricPolyester FillingLumberGlueBalance, June 3000 Predetermined Factory Overhead RatePoehling Medical Center has a single operating room that is used by local physicians to perform surgical procedures. The cost of using the operating room is accumulated by eachpatient procedure and includes the direct materials costs (drugs and medical devices), physician surgical time, and operating room overhead. On January 1 of the current year,the annual operating room overhead is estimated to be:Disposable supplies$299,600Depreciation expense75,000Utilities32,000Nurse salaries278,500Technician wages126,900Total operating room overhead$812,000The overhead costs will be assigned to procedures based on the number of surgical room hours. Poehling Medical Center expects to use the operating room an average of eighthours per day, seven days per week. In addition, the operating room will be shut down two weeks per year for general repairs.a. Calculate the estimated number of operating room hours for the year.hoursb. Determine the predetermined operating room overhead rate for the year.per hourc. Bill Harris had a five-hour procedure on January 22. How much operating room overhead would be charged to his procedure, using the rate determined in part (b)?d. During January, the operating room was used 240 hours. The actual overhead costs incurred for January were $67,250. Determine the overapplied operating overhead orunderapplied operating overhead for the period.

Name: Entries for MaterlalsGenX Furnishings manufactures designer furniture
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Entries for MaterlalsGenX 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