Cash | |||
Beg. Bal. | $ 76,800 | a. | |
$ 1,51,400 | c. | ||
$ 1,26,200 | d. | ||
End. Bal. | $ 3,54,400 |
Raw Materials | |||
Beg. Bal. | |||
a. | $ 76,800 | $ 72,000 | b. |
End. Bal. | $ 4,800 |
Work in Process | |||
Beg. Bal. | |||
b. | $ 66,700 | ||
c. | $ 1,33,300 | ||
e. | $ 1,20,600 | $ 3,20,600 | f. |
End. Bal. |
Finished Goods | |||
Beg. Bal. | |||
f. | $ 3,20,600 | $ 3,20,600 | f. |
End. Bal. |
Manufacturing Overheads | |||
Beg. Bal. | |||
b. | $ 5,300 | $ 1,20,600 | e. |
c. | $ 18,100 | $ 29,000 | g. |
d. | $ 1,26,200 | ||
End. Bal. |
Cost of Goods Sold | |||
Beg. Bal. | |||
f. | $ 3,20,600 | ||
g. | $ 29,000 | ||
End. Bal. | $ 3,49,600 |
2.
Adjusted Cost of Goods sold | = | $ 3,49,600 |
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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...
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