Reference no: EM132907625

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 $66,590
Polyester filling 19,430
Lumber 153,410
Glue 6,060

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

Fabric $338,750
Polyester filling 474,360
Lumber 909,440
Glue 33,420

Materials were requisitioned to individual jobs as follows:

                                                         Fabric                     Polyester Filling         Lumber Glue             Total
Job 601                                     $128,580                 $159,190               $401,640             $689,410
Job 602                                     97,620                     149,690                371,790                619,100
Job 603                                   94,210                          116,010              210,620              420,840
Factory overhead-indirect materials $33,320 33,320
Total                                      $320,410                          $424,890            $984,050           $33,320 $1,762,670

The glue is not a significant cost, so it is treated as indirect materials (factory overhead).

Required:

Problem a. Journalize the June 1 entry to record the purchase of materials in June.

Problem b. Journalize the June 3 entry to record the requisition of materials in June.

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