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Jurvin Enterprises is a manufacturing company that had no beginning in (1).docx

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 , 400 in raw materials were purchased for cash. b. $71 , 500 in raw materials were used in production. Of this amount, $66 , 200 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $151 , 500 were incurred and paid. Of this amount, $134 , 500 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $125 , 800 were incurred and paid. e. Manufacturing overhead of $122 , 100 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. Required: 1. Post the above transactions to T-accounts. 2. Determine the adjusted cost of goods sold for the period. Post the above transactions to T-accounts. Cost of Goods Sold \begin{tabular}{|l|l|l|l} \hline \multicolumn{2}{c|}{ Debit } & \multicolumn{2}{c}{ Credit } \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance & & & \\ \hline \end{tabular} Determine the adjusted cost of goods sold for the period. .

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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. a. $76 , 400 in raw
materials were purchased for cash. b. $71 , 500 in raw materials were used in production. Of this
amount, $66 , 200 was for direct materials and the remainder was for indirect materials. c. Total
labor wages of $151 , 500 were incurred and paid. Of this amount, $134 , 500 was for direct
labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of
$125 , 800 were incurred and paid. e. Manufacturing overhead of $122 , 100 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.
Required: 1. Post the above transactions to T-accounts. 2. Determine the adjusted cost of goods
sold for the period. Post the above transactions to T-accounts. Cost of Goods Sold
begin{tabular}{|l|l|l|l} hline multicolumn{2}{c|}{ Debit } & multicolumn{2}{c}{ Credit } 
hline Beginning balance & & &  hline & & &  hline & & &  hline & & &  hline & & &
 hline Ending balance & & &  hline end{tabular} Determine the adjusted cost of goods sold
for the period.

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