4: (1 point) Exercise 3-7 Prepare T-Accounts [LO7, LO8] Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. a. $94,000 in raw materials were purchased for cash. b. $89,000 in raw materials were requisitioned for use in production. Of this amount, $78,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $132,000 were incurred and paid. Of this amount, $112,000 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $143,000 were incurred and paid. e. Manufacturing overhead costs of $152,000 were applied to jobs using the company's predetermined overhead rate. f. All of the jobs in progress at the end of the month were completed and shipped to customers. g. Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Requirement 1: Post the above transactions to T-accounts. (Record the transactions in the given order. Omit the "$" sign in your response.) Cash __________ ____________ __________ ____________ __________ ____________ Raw Materials __________ ____________ __________ ____________ Balance ____________ Work in Process __________ ____________ __________ ____________ __________ ____________ __________ ____________ Balance ____________ Finished Goods __________ ____________ __________ ____________ Balance ____________ Manufacturing Overhead __________ ____________ __________ ____________ __________ ____________ __________ ____________ __________ ____________ Balance ____________ Cost of Goods Sold __________ ____________ __________ ____________ Balance ____________ ________________________________________ Requirement 2: Determine the cost of goods sold for the period. (Omit the "$" sign in your response.) Cost of goods sold $ ____________ ________________________________________