honth. The company 100 was for direct me t. $112,000 was for dire Record the above transaction EXERCISE 3-2 Prepare T-Accounts LO3-2, LO3-4 Jurvin Enterprises recorded the following transactions for the just completed month Th beginning inventories. 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 and the remainder was for indirect materials. Total labor wages of $132,000 were incurred and paid. Of this amount, $112.000 and the remainder was for indirect labor. Additional manufacturing overhead costs of $143,000 were incurred and paid. Manufacturing overhead of $152,000 was applied to production using the company 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. EXERCISE 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold LO3-3 Primare Corporation has provided the following data concerning last month's manu operations. $30,0 $5,0 Purchases of raw materials ....... Indirect materials included in manufacturing overhead Direct labor ............ Manufacturing overhead applied to work in process Underapplied overhead ......... $58,0 $87,0 $4,0 EXERCISE 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold LO3-3 Primare Corporation has provided the following data concerning last month's manufact operations. Purchases of raw materials ..... Indirect materials included in manufacturing overhead .. Direct labor ... Manufacturing overhead applied to work in process .. Underapplied overhead. $30,000 $5,000 $58,000 $87,000 $4,000 Job-Order Costing: Cost Flows and External Reporting Inventories Beginning Ending Raw materials. Work in process ..... Finished goods ........ $12,000 $56,000 $35,000 $18,000 $65,000 $42.000 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied Prepar overhead is closed to Cost of Goods Sold