1 1 Exercise 3-2 (Algo) Prepare T-Accounts (LO3-2, LO3-4) purvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it recorded during a recent month is shown below. 5 points 80115.45 a. $75,100 in raw materials were purchased for cash b. $72.700 in raw materials were used in production of this amount, $66,000 was for direct materials and the remainder was for c. Total lobor wages of $152,300 were incurred and paid of this amount. $133,300 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $125.500 were incurred and paid Manufacturing overhead of $123,200 was applied to production using the company's predetermined overhead rate, 1. All of the jobs in process at the end of the month were completed g. All of the completed jobs were shipped to customers, n. Any underapplied or overapplied overhead for the period was closed to cost of Goods Sold He Required: 1. Post the above transactions to accounts. 2. Determine the adjusted cost of goods sold for the period Complete this question by entering your answers in the tabs below. Required Required 2 1 Cash Raw Materials Credit Credit Debit Beginning Balance Debit Beginning Balance 5 points 01:14:58 Ending Balance Ending Balance Work in Process Finished Goods Credit Credit Debit Beginning Balance Debit Beginning Balance ferences Ending Balance Ending Balance Cost of Goods Sold Manufacturing Overhead Debit Beginning Balance Credit Credit Debit Beginning Balance Chapter 3 Graded Homework Saved 1 - a. Additional manutacturing overhead costs or 125,500 were incurred and paid. c. Manufacturing overhead of $123,200 was applied to production using the company's predetermined overhead rate. f All of the jobs in process at the end of the month were completed, g. All of the completed jobs were shipped to customers h. Any underapplied or overapplied overhead for the period was closed to Cost of Goods Sold, 5 points 8 01:14:27 Required: 1. Post the above transactions to Taccounts. 2 Determine the adjusted cost of goods sold for the perlod. ebook Complete this question by entering your answers in the tabs below. Refe Required 1 Required 2 Determine the adjusted cost of goods sold for the period Actyosted cost of goods sold