Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4]
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.
Required:
Cash | Raw Materials | |||||||
Beg Bal | Beg Bal | |||||||
75200 | a | a | 75200 | 71400 | b | |||
152700 | c | |||||||
125500 | d | |||||||
End Bal | 353400 | End Bal | 3800 | |||||
Work In process | Finished goods | |||||||
Beg Bal | Beg Bal | |||||||
b | 65700 | 325600 | f | f | 325600 | 325600 | g | |
c | 133400 | |||||||
e | 126500 | |||||||
End Bal | 0 | End Bal | 0 | |||||
Manufacturing Overhead | Cost of goods sold | |||||||
Beg Bal | Beg Bal | |||||||
b | 5700 | 126500 | e | g | 325600 | |||
c | 19300 | 24000 | h | h | 24000 | |||
d | 125500 | |||||||
End Bal | 0 | End Bal | 349600 | |||||
2. The adjusted cost of goods sold is shown above as the ending balance in the Cost of Goods Sold T-account |
||||||||
349600 |
Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4] Jurvin Enterprises is a manufacturing company that had no beginning...
Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4] 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. $76,600 in raw materials were purchased for cash. $72,300 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 $151,300 were incurred and paid. Of this amount, $134,200 was for direct labor...
Exercise 3-2 Prepare T-Accounts (LO3-2, LO3-4] 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. $76,200 in raw materials were purchased for cash. b. $72,400 in raw materials were used in production. Of this amount, $65,200 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $150,800 were incurred and paid. Of this amount, $133,400 was...
Exercise 3-2 Prepare T-Accounts (LO3-2, LO3-4] Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transections that it recorded during a recent month is shown below. a. $75,100 in raw materials were purchased for cash. b. $71J00 in raw materials were used in production. Of this amount, $66,000 was for direct materlals and the remainder was for indirect materials. c. Total labor wages of $150,600 were incurred and paid. Of this amount, $134,400 was...
Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4] 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. $76,800 in raw materials were purchased for cash. $71,000 in raw materials were used in production. Of this amount, $66,200 was for direct materials and the remainder was for indirect materials. Total labor wages of $151,600 were incurred and paid. Of this amount, $133,800 was for direct labor...
Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4) 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. $75,300 in raw materials were purchased for cash. b. $71,500 in raw materials were used in production. Of this amount, $65,200 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $151,000 were incurred and paid. Of this amount, $134,100 was...
Exercise 3-2 (Algo) Prepare T-Accounts (LO3-2, LO3-4] 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. $76,800 in raw materials were purchased for cash b. $71,600 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 $150.300 were incurred and paid of this amount $134.800...
Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4] Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. $75,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. Of this amount, $65,500 was for direct materials and the remainder was for indirect materials. Total labor wages of $150,200 were incurred and paid. Of this amount, $133,700 was for direct labor and the remainder was for indirect labor. Additional manufacturing...
Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4) 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. $71,600 in raw materials were used in production of this amount, $66,400 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, $133,900 was...
Exercise 3-2 Prepare T-Accounts (LO3-2, LO3-4) 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. $77,000 in raw materials were purchased for cash. b. $71.400 in raw materials were used in production of this amount. $66,200 was for direct materials and the remainder was for indirect materials c. Total labor wages of $151,100 were incurred and paid of this amount. $133,500 was...
Exercise 3-2 Prepare T-Accounts [L03-2, LO3-4] 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. $76,000 in raw materials were purchased for cash b. $71,700 in raw materials were used in production. Of this amount, $67,000 was for direct materials and the remainder was for indirect materials C. Total labor wages of $152,700 were incurred and paid. Of this amount, $133.900 was...