Exercise $3-2($Algo$)$ Prepare T$-$Accounts $[$LO$3-2,$ LO$3-4]$

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$.$ $$76,800$ in raw materials were purchased for cash.

b$.$ $$71,200$ in raw materials were used in production. Of this amount, $$67,000$ was for direct materials and the remainder was for indirect materials.

c$.$ Total labor wages of $$151,900$ were incurred and paid. Of this amount, $$133,600$ was for direct labor and the remainder was for indirect labor.

d$.$ Additional manufacturing overhead costs of $$126,700$ were incurred and paid.

e$.$ 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.

Required:

Post the above transactions to $T-$accounts

Determine the adjusted cost of goods sold for the period.