Exercise 2-5 Prepare T-Accounts [LO2-5, LO2-7]

Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories.

a.	$75,700 in raw materials were purchased for cash.
b.	$72,000 in raw materials were requisitioned for use in production. Of this amount, $65,600 was for direct materials and the remainder was for indirect materials.
c.	Total labor wages of $150,600 were incurred and paid. Of this amount, $134,200 was for direct labor and the remainder was for indirect labor.
d.	Additional manufacturing overhead costs of $126,100 were incurred and paid.
e.	Manufacturing overhead costs of $126,900 were applied to jobs using the companys 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.

Required:
1.	Post the above transactions to T-accounts.