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

Jurvin Enterprises is a manufacturing company with no beginning inventories. A subset of the transactions it recorded during a recent month is shown below.

A$.$ Purchased $$76,400$ in raw materials for cash.

B$.$ $$72,200$ in raw materials were used in production. Of this amount, $$67,000$ was direct materials and the remainder was indirect materials.

C$.$ Paid employees $$152,100$ cash. Of this amount, $$133,500$ was direct labor and the remainder was indirect labor.

D$.$ Paid $$126,400$ for additional manufacturing overhead costs.

E$.$ Applied manufacturing overhead of $$127,200$ to production using the company$$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 was closed to Cost of Goods Sold.

Required:

$1.$ Post the above transactions to T$-$accounts.

$2.$ Calculate the adjusted cost of goods sold for the period. rEQUIRED $1$: Post the above transactions to T$-$accounts. AND REQUIRED $2$: ALSO PLEASE TELL ME THE ADJUSTED COST OF GOOD SOLDS FOR THE PERIOD PLEASE