Exercise 3-2 (Algo) Prepare T-Accounts [LO3-2, LO3-4] Jurvin Enterptises 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. $75.700 in raw materials were purchased for cash. b. $71,500 in raw materials were used in production. Of thls amount, $66,000 was for direct materiais and the remainder was for indirect materials. c. Total labor wages of $151,700 were incurred and paid. Of this amount, $133,800 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $125,800 were incurred and paid. e. Manufacturing overhead of \$122,200 was applied to production using the company's predesermined overhead rate. f. All of the jobs in process at the end of the month wore completed: 9. All of the compieted 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 acf,usted cost of goods sold for the period. Complete this question by entering your answers in the tabs below. Post the above barsactions te. T-accoonts. 2. Determine the adjusted cost of goods sold for the period. Complete this question by entering your answers in the tabs below. Post the above transections to T-accounts: Recuired 2? b. $71,500 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials, c. Total labor wages of $151,700 were incurred and poid. Or this amount, $133,800 was for direct labor and the remainder wss for indirect labor. d. Additional manufacturing overhead costs of $125,800 were incurred and paid, e. Manufacturing overhead of $122,200 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. 9. 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 thie tabs below. Determine the adjusted cost of goods sold for the period