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 $75,200 in raw materials were purchased for cash. 5. $72,000 in raw materials were used in production of this amount, $66,700 was for direct materials and the remainder was for c. Total labor wages of $151300 were incurred and paid. Of this amount, $184,700 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $126,500 were incurred and paid e Manufacturing overhead of $128.400 was applied to production using the company's predetermined overhead rate 1. All of the jobs in process at the end of the month were completed 9. All of the completed jobs were shipped to customers h. Any underappled or overappiled 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 ti in the tabs below Required Required

Answer 1

1. Cash

Beg.Bal	$0	a	$75,200
		b	$151,300
		d	$126,500
And.Bal			$353,000

Raw Materials

Beg.Bal
a	$75,200	b	$73,000
End. Bal	$2,200

Work In Process

Beg.Bal
b	$66,700	f	$329,800
c	$134,700
e	$128,400
End. Bal	$0

Finished Goods

Beg.Bal
f	$329,800	g	$329,800
End.Bal	$0

Manufacturing Overhead

Beg.Bal
b	$6,300	e	$128,400
c	$16,600	h	$21,000
d	$126,500
End.Bal	$0

Cost of Goods Sold

Beg.Bal
g	$329,800
h	$21,000
End.Bal	$350,800

2.Adjusted Cost of Goods Sold = $329,800 +$21,000 = $350,800