Question

lunin 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 $76,900 in raw materials were purchased for cash b 571100 in raw materials were used in production of this amount. $65.300 was for direct materials and the remainder was for indirect materials. Total labor wages of $152,200 were incurred and paid of this amount. $133.200 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $126.100 were incurred and paid. e Manufacturing overhead of $126.900 was applied to production using the company's predetermined overhead rate 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

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Answer 1

Jurvin Enterprises Requirement 1 Cash Raw Materials Beg. Bal. Beg. Bal. a. a. 76900 b. 71100 76900 152200 126100 End Bal. End Bal. 5800 76900 76900 Work in Process Finished Goods Beg. Bal. b. Beg. Bal. f. 325400 g. 325400 65300 133200 126900 f. 325400 End Bal. 325400 325400 Cost of goods sold Beg. Bal. Manufacturing Overhead Beg. Bal. 5800 126900 19000 h. 24000 d. 126100 End Bal. 150900 150900 325400 24000 End Bal. 349400 349400 349400 Requirement 2 The adjusted cost of goods sold is shown above as the ending balance in the Cost of Goods Sold T-account ($349,400).