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Jurvin Enterprises is a manufacturing company that had no beginning Inventorles. A subset of the transactions that it recorded during a recent month is shown
Jurvin Enterprises is a manufacturing company that had no beginning Inventorles. A subset of the transactions that it recorded during a recent month is shown below. a. $75,900 in raw materials were purchased for cash. b. $71,900 In raw materlals were used in production. Of this amount, $65,800 was for direct materlals and the remainder was for Indirect materlals. c. Total labor wages of $151,900 were incurred and pald. Of this amount, $133,500 was for direct labor and the remainder was for Indirect labor. d. Additional manufacturing overhead costs of $126,700 were Incurred and pald. e. Manufacturing overhead of $126.200 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 perlod 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 perlod. Complete this question by entering your answers in the tabs below. Post the above transactions to T-accounts. Jurvin Enterprises is a manufacturing company that had no beginning Inventorles. A subset of the transactions that it recorded during a recent month is shown below. a. $75,900 in raw materials were purchased for cash. b. $71,900 in raw materlals were used in productlon. Of this amount, $65,800 was for direct materlals and the remainder was for Indirect materlals. c. Total labor wages of $151,900 were incurred and paid. Of this amount, $133,500 was for direct labor and the remainder was for Indirect labor. d. Additional manufacturing overhead costs of $126,700 were Incurred and paid. e. Manufacturing overhead of $126,200 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 perlod 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 perlod. Complete this question by entering your answers in the tabs below. Determine the adjusted cost of goods sold for the period
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