Question

please show how to find the numberes.

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. $94,000 in raw materials were purchased for cash. b. $89,000 in raw materials were used in production. Of this amount, $78,000 was for direct materials and the remainder was for Indirect materials. c. Total labor wages of $132,000 were incurred and paid. Of this amount, $112,000 was for direct labor and the remainder was for Indirect labor. d. Additional manufacturing overhead costs of $143,000 were incurred and paid. e. Manufacturing overhead of $152,000 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.

Answer 1

1]	Cash					Raw materials
	Beg Bal		$          94,000	Raw Mat		Beg Bal	$          94,000	$        78,000	WIP
			$       1,12,000	WIP				$        11,000	MFG OH
			$          20,000	MFG OH			$          94,000	$        89,000
			$       1,43,000	MFG OH		End Bal	$             5,000
	Note: Beg. Balance not given; hence account cannot be
	completed
	Work in Process					Finished Goods
	Beg Bal					Beg Bal	$       3,42,000	$     3,42,000	Tr to COGS
	Raw Mat	$          78,000	$       3,42,000	Trf to FG		End Bal	$                    -
	Direct labor	$      1,12,000
	MFG OH	$      1,52,000
		$      3,42,000	$       3,42,000
	End Bal	$                   -
	Manufacturing Overhead					Cost of Goods Sold
	Beg Bal					Beg Bal	$                    -
	Raw Mat	$          11,000	$       1,52,000	OH applied		Tr from FG	$       3,42,000	364000	Trf to Income Summary
	Indirect labor	$          20,000	$          22,000	Under applied OH Tr to COGS		MFG OH [Underapplied]	$          22,000
	Other Exp	$      1,43,000					$       3,64,000	364000
		$      1,74,000	$       1,74,000			End Bal	$                    -
	End Bal	$                   -
2]	Adjusted COGS =		$       3,64,000