Exercise 3-2 (Algo) Prepare 1-Accounts [LO3-2 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. $72,900 in raw materials were used in production. Of this amount, $65.900 was for direct materials and the remainder was for Indirect materials. c. Total labor wages of $151,400 were incurred and paid. Of this amount, $133,400 was for direct labor and the remainder was for Indirect labor d. Additional manufacturing overhead costs of $125,400 were incurred and paid. e. Manufacturing overhead of $125.400 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to T-accounts. Debit Beginning Balance Ending Balance Debit Beginning Balance Cash Work in Process 65,900 133,400 Raw Materials Credit Debit Credit Beginning Balance 76,800 a 76,800 72.900 151,400 b 125.400 353 600 Ending Balance 3,900 Finished Goods Credit Debit Credit Deginning Balance Fade Balance 100 300 Ferien Raisonn