Question

Chapter 3 Exercises Saved 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. 20 points Skipped a. $75,100 in raw materials were purchased for cash. b. $72,600 in raw materials were used in production. Of this amount, $65,700 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, $133,300 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $125,400 were incurred and paid. e. Manufacturing overhead of $128,400 was applied to production using the company's predetermined overhead rate. f. All of the jobs in process at the end of the month were completed. g. All of the completed jobs were shipped to customers. h. Any underapplied or overapplied overhead for the period was closed to Cost of Goods Sold. eBook Hint Required: Print 1. Post the above transactions to T-accounts. 2. Determine the adjusted cost of goods sold for the period. References Complete this question by entering your answers in the tabs below. Required Required 2 Post the above transactions to T-accounts. Cash Beg. Bal. Raw Materials Beg. Bali End. Bal. End. Bal. Work in Process Finished Goods Beg. Bal. Beg. Bal. End. Bal. End. Bal. Manufacturing Overhead Cost of Goods Sold Beg. Bal. Beg. Bal. End. Bal. End. Bal. Required 1 Required 2 >

Answer 1

Cash					Raw Materials
Beg.bal					Beg.bal
		75,100	a.		a.	75,100
		150,400	c.				72,600	b.
		125,400	d.
end bal		350,900			end bal	2,500
Work in process					finished goods
Beg.bal					Beg.bal
b.	65,700				f.	327,400
c.	133,300						327,400	g.
e.	128,400
		327,400	f.
end bal	0				end bal	0
Manufacturing overhead					cost of goods sold
Beg.bal					beg bal	0
b.	6,900				g.	327,400
c.	17,100				h.	21,000
d.	125,400
		128,400	e
		21,000	h
End bal	0				end bal	348,400
Adjusted cost of goods sold				348,400