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Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it recordePost the above transactions to T-accounts. Cash Raw Materials Beg. Bal. Beg. Bal. a. C. d. End. Bal. End. Bal. Work in Proces

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Answer #1

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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