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dont answer as i have already did the question in full and solved it Jurvin Enterprises is a manufacturing company that had no beginning inventories.
dont answer as i have already did the question in full and solved it
Jurvin 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. a. $76,000 in raw materials were purchased for cash. b. $71,600 in raw materials were used in production. Of this amount, $65,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $151,600 were incurred and paid. Of this amount, $134,900 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $126,500 were incurred and paid. e. Manufacturing overhead of $129,800 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. Required: 1. Post the above transactions to T-accounts. 2. Determine the adjusted cost of goods sold for the period. Cash Raw Materials Beg. bal. 0 Beg. bal. 0 a. 76,000 71,600 lb 76,000 a. 151,600 C. 126,500 d. End. bal. 354,100 End. bal. 4,400 Work in Process Finished Goods Beg. bal. 0 Beg. bal. b f. C. e. End. bal. End. bal. Manufacturing Overhead Cost of Goods Sold Beg. bal. Beg. bal End. bal. End. bal. Determine the adjusted cost of goods sold for the period. Adjusted cost of goods soldStep by Step Solution
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