Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4]

Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories.

a.$77,000 in raw materials were purchased for cash.

b.$71,400 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 $152,700 were incurred and paid. Of this amount, $134,000 was for direct labor and the remainder was for indirect labor.

d.Additional manufacturing overhead costs of $126,000 were incurred and paid.

e.Manufacturing overhead of $124,200 was applied to production using the companys 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.

I need help correcting the fields in "Required 1" I followed this guide and still got the wrong answer: https://www.chegg.com/homework-help/questions-and-answers/jurvin-enterprises-t-accounts-cost-goods-sold-help-get-started-assignment-jurvin-enterpris-q1632525

Complete this question by entering your answers in the tabs below. Required 1Required 2 Post the above transactions to T-accounts Cash Raw Materials Beg. Bal Beg. Bal 77,000 a 152.700b 126.000d 77,000 65.900 X b 5,500b End. Bal 355,700 End. Bal 5,600 Work in Process Finished Goods Beg. Bal Beg. Bal 65,900 134,000 124,200 324.100f 324,100 324.100f End. Bal End. Bal Manufacturing Overhead Cost of Goods Sold Beg. Bal Beg. Bal 5,500 18,700 126,000 124,200 e 26,000g 324,100 26,000 End. Bal End. Bal 350,100 Required 1 Required 2 Determine the adjusted cost of goods sold for the period Adjusted cost of goods sold S 350,100