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1 Exercise 3-2 (Algo) Prepare T-Accounts (LO3-2, LO3.4) nts 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. eBook Print Beferences a. $75100 in raw materials were purchased for cash. b. $71,500 in raw materials were used in production of this amount, $66,800 was for direct materials and the remainder was for Indirect materials Total labor wages of $150,500 were incurred and paid of this amount, $134,000 was for direct labor and the remainder was for Indirect labor d. Additional manufacturing overhead costs of $126,800 were incurred and paid. Manufacturing overhead of $125,000 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. 9. All of the completed jobs were shipped to customers h. Any underapplled 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to T-accounts Cash Raw Materials MC Graw HAH Proy 1 of 3 !!! Next > Cash Raw Materials Credit Debit Beginning Balance dit Debit Beginning Balance ok int Ending Balance Ending Balance Work in Process onces Finished Goods Credit Debit Beginning Balance Credit Debit Beginning Balance Ending Balance Ending Balanon Cost of Goods Sold Manufacturing Overhead Debit Beginning Balance Credit Debit Credit Beginning Balance Ending Balance Ending Balance Prey 1 of 3 !!! Next > D. /1,500 in raw mate were used in production. Ur this amount, 900,00 as for direct materials and the remainder was for indirect materials. c. Total labor wages of $150,500 were incurred and paid. Of this amount. $134,000 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 $125,000 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 9. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the adjusted cost of goods sold for the period. Adjusted cost of goods sold