Question

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. $76,500 in raw materials were purchased for cash. b. $72,300 in raw materials were used in production. Of this amount, $66,100 was for direct materials and the remainder was for indirect materials. C. Total labor wages of $150,200 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 $125,400 were incurred and paid. e. Manufacturing overhead of $119,500 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 Required Post the above transactions to T-accounts. Cash Raw Materials Beg. Bal. Beg. Bal. End. Bal. End. Bal. Work in Process Finished Goods Beg. Bal. Beg. Bal. End. Bal. Bal. Cost of Goods Sold Manufacturing Overhead Beg. Bal. Beg. Bal. End. Bal. End. Bal.

Answer 1

Cash					Raw Materials
Beg.bal					Beg.bal
		76,500	a.		a.	76,500
		150,200	c.				72,300	b.
		125,400	d.
end bal		352,100			end bal	4,200
Work in process					finished goods
Beg.bal					Beg.bal
b.	66,100				f.	319,900
c.	134,300						319,900	g.
e.	119,500
		319,900	f.
end bal	0				end bal	0
Manufacturing overhead					cost of goods sold
Beg.bal					beg bal	0
b.	6,200				g.	319,900
c.	15,900				h.	28,000
d.	125,400
		119,500	e
		28,000	h
End bal	0				end bal	347,900
Adjusted cost of goods sold				347,900