Yellen Furnishings manufactures designer furniture. Yellen Furnishings uses a job order cost system. Balances on June 1 from the materials edger are as follows: Fabric $25,000 Polyester filling 7,500 Lumber 56,000 Glue 2,400 The materials purchased during June are summarized from the receiving reports as follows: Fabric $126,300 Polyester filling 175,600 Lumber 346,100 Glue 12,000 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $46,700 $58,800 $157,400 $262,900 Job 602 36,000 64,000 137,800 237,800 Job 603 33,200 43,400 76,600 153,200 Factory overhead-indirect materials $6,100 6,100 Total $115,900 $166,200 $371,800 $6,100 $660,000 The glue is not a significant cost, so it is treated as indirect materials (factory overhead).

Yellen Furnishings manufactures designer furniture. Yellen Furnishings uses a job order cost system. Balances on June 1 from the materials edger are as follows: Fabric $25,000 Polyester filling 7,500 Lumber 56,000 Glue 2,400 The materials purchased during June are summarized from the receiving reports as follows: Fabric $126,300 Polyester filling 175,600 Lumber 346,100 Glue 12,000 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $46,700 $58,800 $157,400 $262,900 Job 602 36,000 64,000 137,800 237,800 Job 603 33,200 43,400 76,600 153,200 Factory overhead-indirect materials $6,100 6,100 Total $115,900 $166,200 $371,800 $6,100 $660,000 The glue is not a significant cost, so it is treated as indirect materials (factory overhead).

Name: a. Journalize the entry to record the purchase of materials in June.
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Description: a. Journalize the entry to record the purchase of materials in June. If an amount box does not require an entry, leave it blank.88Materialsа.Accounts Payable vFeedbackb. Journalize the entry to record the requisition of materials in June. If an amou

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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