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    Bullock Furniture: Calculate balances for materials ledger

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    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 $

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    https://brainmass.com/business/accounting/bullock-furniture-calculate-balances-materials-ledger-405956

    Solution Summary

    The Solution finds the balances for the materials ledger accounts for Bullock Furniture.

    $2.19

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