Bullock Furniture: Calculate balances for materials ledger
Not what you're looking for?
Bullock Furniture Company manufactures furniture. Bullock uses a job order cost system.
Balances on June 1 from the materials ledger are as follows:
Fabric $18,400
Polyester filling 5,500
Lumber 41,200
Glue 1,800
The materials purchased during June are summarized from the receiving reports as follows:
Fabric $90,200
Polyester filling 125,400
Lumber 247,100
Glue 8,600
Materials were requisitioned to individual jobs as follows:
Fabric Polyester Filling Lumber Glue Total
Job 101 $33,400 $42,100 $112,600 $188,100
Job 102 25,700 45,800 98,500 170,000
Job 103 23,700 31,100 54,800 109,600
Factory overhead-indirect materials $4,300 4,300
Total $82,800 $119,000 $265,900 $4,300 $472,000
The glue is not a significant cost, so it is treated as indirect materials (factory overhead).
Determine the June 30 balances that would be shown in the materials ledger accounts.
Balance, June 30
Fabric $
Polyester Filling $
Lumber $
Glue $
Purchase this Solution
Solution Summary
The Solution finds the balances for the materials ledger accounts for Bullock Furniture.
Purchase this Solution
Free BrainMass Quizzes
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.