1.
CASH | |||
Beg.bal | |||
$75300 | a | ||
$150400 | c | ||
$125500 | d | ||
End. Bal | $3100 |
RAW MATERIALS | |||
Beg.bal | |||
a. | $75300 | $72200 | b |
End. Bal. | $3100 | ||
Work in progress | |||
Beg.bal | |||
b | $65200 | $326100 | f |
c | $134500 | ||
e | $126400 | ||
End. Bal. | 0 |
FINISHED GOODS | |||
Beg.bal | |||
f | $326100 | $326100 | g |
End. Bal. | 0 |
MANUFACTURING OVERHEAD | |||
Beg.bal | |||
b | $7000 | $126400 | e |
c | $15900 | $22000 | h |
d | $125500 | ||
End Bal | 0 |
COST OF GOODS SOLD | |||
Beg.bal | |||
g | $326100 | ||
h | $22000 | ||
End Bal. | $348100 |
2.Adjusted Cost of Goods Sold
Underapplied manufacturing Overhead costs:
Applied = $126400
Actual= $7000 + $15900 + $125500 =$148400
Underapplied manufacturing Overhead costs: = $148400 - $126400 =$22000
= Cost of Goods Sold + Underapplied manufacturing Overhead costs
= $326100 + $22000 = $348100
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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. a. $75,300 in raw materials were purchased for cash. b. $71,300 in raw materials were used in production. Of this amount, $65,800 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $150,400 were incurred and paid. Of this amount, $133,100 was for direct labor and the remainder...
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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. $76,200 in raw materials were purchased for cash. $72,200 in raw materials were used in production. Of this amount, $65,900 was for direct materials and the remainder was for indirect materials. Total labor wages of $150,800 were incurred and paid. Of this amount, $134,400 was for direct labor and the remainder was for indirect...
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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. $76,200 in raw materials were purchased for cash. $72,400 in raw materials were used in production. Of this amount, $65,200 was for direct materials and the remainder was for indirect materials. Total labor wages of $150,800 were incurred and paid. Of this amount, $133,400 was for direct labor and the remainder was for indirect...
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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. $75,400 in raw materials were purchased for cash. $72,100 in raw materials were used in production. Of this amount, $66,400 was for direct materials and the remainder was for indirect materials. Total labor wages of $151,500 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. $76,000 in raw materials were purchased for cash. $71,600 in raw materials were used in production. Of this amount, $65,800 was for direct materials and the remainder was for indirect materials. Total labor wages of $150,100 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. $76,300 in raw materials were purchased for cash. $72,100 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 $151,400 were incurred and paid. Of this amount, $133,200 was for direct labor and the remainder was for indirect...