Answered step by step
Verified Expert Solution
Question
1 Approved Answer
It is telling me that my answer is not complete but I have everything correct, I just need help with what I am missing. 6
It is telling me that my answer is not complete but I have everything correct, I just need help with what I am missing.
6 points 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. $76,000 in raw materials were purchased for cash. b. $72,800 in raw materials were used in production. Of this amount, $66,100 was for direct materials and the remainder was for indirect materials. C. Total labor wages of $152,900 were incurred and paid. Of this amount, $133,900 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $125,300 were incurred and paid. e. Manufacturing overhead of $122,000 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. 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. % Answer is not complete. Complete this question by entering your answers in the tabs below. 11 X Answer is not complete. Complete this question by entering your answers in the tabs below. 6 points Required 1 Required 2 Post the above transactions to T-accounts. Cash Raw Materials Credit Credit Debit Beginning balance Debit Beginning balance 0 76,000 a. a 76,000 72,800 b. 152,900 c. OOO 125,300d. Ending balance 354,200 Ending balance 3,200 Work in Process Finished Goods Debit Credit Debit Credit Beginning balance 0 Beginning balance 0 b. 322,000 f. f. 322,000 322,000 g 66,100 133,900 C. e. 122.000 Work in Process Finished Goods Credit Credit Debit Beginning balance b. 0 Debit Beginning balance f. 0 6 points 322,000 f. 1. 322.000 322.000 g . 66,100 133,900 OOO C. OOOO e. 122,000 Ending balance Ending balance Cost of Goods Sold Credit Credit 0 Manufacturing Overhead Debit Beginning balance 0 b. 6,700 122,000 C. 19,000 d. d 125,300 OOO Debit Beginning balance 9. . h. e. 322,000 OOO 29,000 Ending balance 29,000 Ending balance 351.000 Required Required 2 >
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started