Exercise 3-2 Prepare T-Accounts (LO3-2, 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. $76,700 in raw materials were purchased for cash. b. $71,400 in raw materials were used in production of this amount, $66,500 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $151,300 were incurred and paid. Of this amount, $133,200 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $127,000 were incurred and paid. e. Manufacturing overhead of $129,000 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. Required 1 Required 2 Post the above transactions to T-accounts. 8 Cash Raw Materials Beg Bal. Beg. Bal. . DID End. Bal. Work in Process Finished Goods Bog. Bal. Beg End. Bal. End. Bal Manufacturing Overhead Beg Ball Cost of Goods Sold Bog. Bal End. Bad 1. Bal Required 1 Required 2 " Determine the adjusted cost of goods sold for the period. Adjusted cost of goods sold (Required 1