Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories.

a. $75,400 in raw materials were purchased for cash.

b. $72,900 in raw materials were used in production. Of this amount, $65,700 was for direct materials and the remainder was for indirect materials.

c. Total labor wages of $150,400 were incurred and paid. Of this amount, $134,100 was for direct labor and the remainder was for indirect labor.

d. Additional manufacturing overhead costs of $126,800 were incurred and paid.

e. Manufacturing overhead of $122,300 was applied to production using the companys 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.

Cash Raw Materials Beg. Bal. 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 Beg. Bal. Beg. Bal. End. Bal. End. Bal