Entries for Materials Genx Furnishings manufactures designer furniture Genx Furn

Question

Entries for Materials Genx Furnishings manufactures designer furniture Genx Furnishings uses a job order oost system Balances Fabric Polyester filling $26 500 8,000 59.400 2,500 Glue The materials purchased during June are J summanized from the rocelving reports as follows Fabric Polyester filling Lumber Glue Materials were requisitioned to individual jobs as follows $130,100 180,800 356,500 2400 Fabrie Polyester Filling Lumber GlueTotal $48,100 37000 34 200 Job 601 Job 602 Job 603 Factory overhead -indirect materials Total The glue is not a signiticant cost so it is treated as indirect materals (factory overhead $60,600 $162,100 65,500 141,900 44,700 78,900 $119,300 171 200$382,900 $%,300 $679,700 All work saved

Explanation / Answer

Req a: Journal Entry: Raw material Inventory Dr. 679800       Accounts payable 679800 Req b: Work IN process Inventory Ddr. 673400 Factory overheads Dr. 6300        Raw material Inventory 679700 Req c: Fabric Polyester Lumber Glue Beginning balance of RM 26500 8000 59400 2500 Add: Purchases 130100 180800 356500 12400 Less: Issued to production 119300 171200 382900 6300 Balance at the end 37300 17600 33000 8600

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.