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Please help me with this homework question it is due tonight by 11:59pm:( Please explain how thank you so much!!:) Jurvin Enterprises is a manufacturing
Please help me with this homework question it is due tonight by 11:59pm:( Please explain how thank you so much!!:)
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.
- $75,800 in raw materials were purchased for cash.
- $72,000 in raw materials were used in production. Of this amount, $66,700 was for direct materials and the remainder was for indirect materials.
- Total labor wages of $150,000 were incurred and paid. Of this amount, $134,200 was for direct labor and the remainder was for indirect labor.
- Additional manufacturing overhead costs of $125,700 were incurred and paid.
- Manufacturing overhead of $125,800 was applied to production using the companys predetermined overhead rate.
- All of the jobs in process at the end of the month were completed.
- All of the completed jobs were shipped to customers.
- Any underapplied or overapplied overhead for the period was closed to Cost of Goods Sold.
1) Required:
1. Post the above transactions to T-accounts.
2. Determine the adjusted cost of goods sold for the period.
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2) Determine the adjusted cost of goods sold for the period.
adjusted cost of goods sold ____ |
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