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.

1. $76,500 in raw materials were purchased for cash.
2. $71,300 in raw materials were used in production. Of this amount, $65,300 was for direct materials and the remainder was for indirect materials.
3. Total labor wages of $150,400 were incurred and paid. Of this amount, $133,100 was for direct labor and the remainder was for indirect labor.
4. Additional manufacturing overhead costs of $125,200 were incurred and paid.
5. Manufacturing overhead of $124,500 was applied to production using the companys predetermined overhead rate.
6. All of the jobs in process at the end of the month were completed.
7. All of the completed jobs were shipped to customers.
8. 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.

Post the above transactions to T-accounts.

Cash					Raw Materials
Debit		Credit			Debit		Credit
Beginning Balance	0	76,500			Beginning Balance
Ending Balance		76,500			Ending Balance
Work in Process					Finished Goods
Debit		Credit			Debit		Credit
Beginning Balance					Beginning Balance
Ending Balance					Ending Balance
Manufacturing Overhead					Cost of Goods Sold
Debit		Credit			Debit		Credit
Beginning Balance					Beginning Balance
Ending Balance					Ending Balance

• Determine the adjusted cost of goods sold for the period.

  	Adjusted cost of goods sold