Exercise 3-2 Prepare T-Accounts (L03-2, LO3-4) 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. $94,000 in raw materials were purchased for cash, b. $89.000 in raw materials were used in production of this amount, $78,000 was for direct materials and the remainder was for indirect materials. c Total labor wages of $132.000 were incurred and paid of this amount, $112.000 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $143,000 were incurred and paid. e. Manufacturing overhead of $152,000 was applied to production using the company's predetermined overhead rate. 1. 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. Required 1 Required 2 Poot the above transactions to accounts Cash Raw Material Beg Bal a 94,000 Beg Bal a 94.000 89.000 6 C d ces 132,000 143,000 369,000 End. Bal End. Bal 5,000 Work in Process Finished Goods Beg Bal Beg Bal 342.000 342.000 End. Bal End. Bal ter 3: Homework Saved Help Say 2 Work in Process Finished Goods Beg. Bal Beg Bal 342,000 342,000 End. Bal End. Bal mok int Manufacturing Overhead Cost of Goods Sold int Beg Ball b 342,000 Beg Ball 9 Th. 78,000 112,000 152,000 encos 342,000 22,000 e End. Bal End. Bal 364,000 Required 1 Required 2 >