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Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it recorded during a recent month is
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. $76,300 in raw materials were purchased for cash. b. $72700 in raw materials were used in production. Of this amount, $66,600 was for direct materials and the remainder was for Indirect materials Total labor wages of $151,700 were incurred and paid. Of this amount, $134,600 was for drect labor and the remainder was for Indred labor. d. Additional manufacturing overhead costs of $125,300 were incurred and paid e. Manufacturing overhead of $127,500 was applied to production using the company's predetermined overhead rate. 1. 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 under applied or over applied 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to T-accounts. Beg. bal. Cash Raw Materials Beg bal End. bal. End. bal Work in Process Finished Goods Beg. bal Beg, bal. End. bal End bal Manufacturing Overhead Cost of Goods Sold Bag: bal Beg. bal End. bal. End. bal Required 2
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