a. Journalize the entry to record the purchase of materials in June. If an amount box does not require an entry, leave it blank. a. Materials 460,700 X Accounts Payable Feedback Check My Work a. Increase materials inventory and a liability for the total of purchases. b. 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 Process Factory Overhead 88 Materials c. Determine the June 30 balances that would be shown in the materials ledger accounts. Fabric Polyester Filling Lumber Balance, June 30 Glue
a. Journalize the entry to record the purchase of materials in June. If an amount box does not require an entry, leave it blank. a. Materials 460,700 X Accounts Payable Feedback Check My Work a. Increase materials inventory and a liability for the total of purchases. b. 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 Process Factory Overhead 88 Materials c. Determine the June 30 balances that would be shown in the materials ledger accounts. Fabric Polyester Filling Lumber Balance, June 30 Glue
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please do not give solution in image format ? And explain proper steps by Step.

Transcribed Image Text: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
$18,400
5,500
41,200
1,800
Polyester filling
Lumber
Glue
The materials purchased during June are summarized from the receiving reports as follows
Fabric
Polyester filling
Lumber
246,100
Glue
8,500
Materials were requisitioned lo individual jobs as follows:
$89,800
124,800
Fabric Polyester Filling
$32,300
24,900
22,900
Lumber Glue
Job 601
Job 602
Job 603
Factory overhead-indirect materials
$4,200
Total
$50,100
$115,000 $257,200 $4,200
The glue is not a significant cost, so it is treated as indirect materials (factory overhead).
$40,700 $108,900
44,300
95,300
30,000
$3,000
Total
$181,900
164,500
105,900
4,200
$456,500

Transcribed Image Text:a. Journalize the entry to record the purchase of materials in June. If an amount box does not require an entry, leave it blank.
a. Materials
460,700 X
Accounts Payable
Feedback
Check My Work
a. Increase materials inventory and a liability for the total of purchases.
b. 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 Process
Factory Overhead
Materials
c. Determine the June 30 balances that would be shown in the materials ledger accounts.
Fabric
Polyester Filling
Balance, June 30
Lumber
Glue
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