Entries for Materials Yellen Furnishings manufactures designer furniture. Yellen Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric $36,500 Polyester filling 25,700 Lumber 56,200 Glue 5,900 The materials purchased during June are summarized from the receiving reports as follows: Fabric $396,000 Polyester filling 162,000 Lumber 324,000 Glue 36,000 Materials were requisitioned to individual jobs as follows:   Fabric Polyester Filling Lumber Glue Total Job 601 $185,000 $68,000 $108,000 - $361,000 Job 602 99,000 32,000 79,000 - 210,000 Job 603 117,000 50,000 113,000 - 280,000 Factory overhead-indirect materials - - - $31,300 31,300 Total $401,000 $150,000 $300,000 $31,300 $882,300 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. If an amount box does not require an entry, leave it blank. Materials     Accounts Payable     b.  Journalize the entry to record the requisition of materials in June. If an amount box does not require an entry, leave it blank.   Work In Process     Factory Overhead     Materials     c.  Determine the June 30 balances that would be shown in the materials ledger accounts.   Fabric Polyester Filling Lumber Glue Balance, June 30 $ $ $ $ please answer all parts.

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 5E: Kingsford Furnishings Company manufactures designer furniture. Kingsford Furnishings uses a job...
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Entries for Materials

Yellen Furnishings manufactures designer furniture. Yellen Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows:

Fabric $36,500
Polyester filling 25,700
Lumber 56,200
Glue 5,900

The materials purchased during June are summarized from the receiving reports as follows:

Fabric $396,000
Polyester filling 162,000
Lumber 324,000
Glue 36,000

Materials were requisitioned to individual jobs as follows:

  Fabric Polyester Filling Lumber Glue Total
Job 601 $185,000 $68,000 $108,000 - $361,000
Job 602 99,000 32,000 79,000 - 210,000
Job 603 117,000 50,000 113,000 - 280,000
Factory overhead-indirect materials - - - $31,300 31,300
Total $401,000 $150,000 $300,000 $31,300 $882,300

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. If an amount box does not require an entry, leave it blank.

Materials    
Accounts Payable    

b.  Journalize the entry to record the requisition of materials in June. If an amount box does not require an entry, leave it blank.

 

Work In Process    
Factory Overhead    
Materials    

c.  Determine the June 30 balances that would be shown in the materials ledger accounts.

  Fabric Polyester Filling Lumber Glue
Balance, June 30 $ $ $ $

please answer all parts.

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