Q.1

Q.2

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. $75,500 in raw materials were purchased for cash. b. $71,300 in raw materials were used in production. Of this amount, $65,900 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $150,700 were incurred and paid. Of this amount, $134,300 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $127,000 were incurred and paid. e. Manufacturing overhead of $126,800 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to T-accounts. Raw Materials Cash 0 Beg. Bal. Beg. Bal. 75,000 150,700 C. 125,700 d. End. Bal. 351,400 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. Required 1 Required 2 Determine the adjusted cost of goods sold for the period. Adjusted cost of goods sold Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $31,000 $ 4,680 $59,900 $87,800 $ 4,100 Inventories Raw materials Work in process Finished goods Beginning $ 11,600 $ 54,500 $ 34,800 Ending $ 19,400 $ 65,300 $ 42,700 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. Complete the question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Raw materials used in production 11,600 31,000 42,600 19,400 S 0 Total manufacturing costs 0 Cost of goods manufactured Required 1 Required 2 Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. Primare Corporation Schedule of Cost of Goods Sold