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:
1. Post the above transactions to T-accounts.
2. Determine the adjusted cost of goods sold for the period.
Can you post the alphabetical letters the T account?
Requirement #1:
Cash | |||
Event | Debit | Event | Credit |
Beg Bal | $0.00 | a | $75,100 |
c | $152,300 | ||
d | $125,300 |
Raw Materials | |||
Event | Debit | Event | Credit |
Beg Bal | $0.00 | b | $72,400 |
a | $$75,100 | ||
End Bal | $2,700 |
Work In Process | |||
Event | Debit | Event | Credit |
Beg Bal | $0.00 | f | $322,000 |
b | $65,300.00 | ||
c | $134,200.00 | ||
e | $122,500 | ||
End Bal | $0.00 |
Finished Goods | |||
Event | Debit | Event | Credit |
Beg Bal | $0.00 | g | $322,000 |
f | $322,000 | ||
End Bal | $0.00 |
Manufacturing Overhead | |||
Event | Debit | Event | Credit |
Beg Bal | $0.00 | e | $122,500 |
b | $7,100 | h(balancing fig) | $28000 |
c | $18,100 | ||
d | $125,300 | ||
End Bal | $0.00 |
Cost of goods sold | |||
Event | Debit | Event | Credit |
Beg Bal | $0.00 | ||
g | $322000.00 | ||
h | $28,000.00 | ||
End Bal | $350000.00 |
Requirement# 2:
Adjusted cost of good sold = $350,000
Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...
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. $75,100 in raw materials were purchased for cash. $72,400 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 $152,300 were incurred and paid. Of this amount, $134,200 was for direct labor and the remainder was for indirect...
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. $75,500 in raw materials were purchased for cash. $72,900 in raw materials were used in production. Of this amount, $65,600 was for direct materials and the remainder was for indirect materials. Total labor wages of $151,200 were incurred and paid. Of this amount, $133,000 was for direct labor and the remainder was for indirect...
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. $75,700 in raw materials were purchased for cash. $73,000 in raw materials were used in production. Of this amount, $66,100 was for direct materials and the remainder was for indirect materials. Total labor wages of $152,300 were incurred and paid. Of this amount, $133,300 was for direct labor and the remainder was for indirect...
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. $76,000 in raw materials were purchased for cash. $71,900 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, $133,400 was for direct labor and the remainder was for indirect...
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. $76,500 in raw materials were purchased for cash. $72,400 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 $151,100 were incurred and paid. Of this amount, $133,700 was for direct labor and the remainder was for indirect...
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. $76,900 in raw materials were purchased for cash. 6.572,200 in raw materials were used in production of this amount, $65,100 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $152,300 were incurred and paid. Of this amount, $133,700 was for direct labor and the remainder was...
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. $75,100 in raw materials were purchased for cash. b. $72,000 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. C. Total labor wages of $150,900 were incurred and paid. Of this amount, $134,400 was for direct labor and the remainder...
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, $65,400 was for direct materials and the remainder was for indirect materials. Total labor wages of $150,300 were incurred and paid. Of this amount, $133,900 was for direct labor and the remainder was for indirect...
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. $75,300 in raw materials were purchased for cash. $71,500 in raw materials were used in production. Of this amount, $67,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $152,200 were incurred and paid. Of this amount, $134,800 was for direct labor and the remainder was for indirect...
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. $94,000 in raw materials were purchased for cash. $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. 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...