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. $75,300 in raw materials were purchased for cash. b. $72,700 in raw materials were used in production. Of this amount, $65,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $152,400 were incurred and paid. Of this amount, $134,600 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $126,400 were incurred and paid. e. Manufacturing overhead of $126,900 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. Beginning balance Debit Ending balance Beginning balance Debit Ending balance Cash Credit Beginning balance Ending balance Raw Materials Debit Credit Work in Process Finished Goods Credit Debit Credit Beginning balance Ending balance Beginning balance Ending balance Debit Manufacturing Overhead Credit Beginning balance Ending balance Cost of Goods Sold Debit Credit Required 1 Required 2 Determine the adjusted cost of goods sold for the period. Adjusted cost of goods sold Exercise 3-2 (Algo) Prepare T-Accounts [LO3-2, LO3-4] 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. $75,300 in raw materials were purchased for cash. b. $72,700 in raw materials were used in production. Of this amount, $65,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $152,400 were incurred and paid. Of this amount, $134,600 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $126,400 were incurred and paid. e. Manufacturing overhead of $126,900 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.