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Jurvin Enterprises is a manufacturing company with no beginning inve.pdf

Jurvin Enterprises is a manufacturing company with no beginning inventories. A subset of the transactions it recorded during a recent month is shown below. a. Purchased $94,000 in raw materials for cash. b. $89,000 in raw materials were used in production. Of this amount, $78,000 was direct materials and the remainder was indirect materials. c. Paid employees $132,000 cash. Of this amount, $112,000 was direct labor and the remainder was indirect labor. d. Paid $143,000 for additional manufacturing overhead costs. e. Applied manufacturing overhead of $152,000 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 was closed to Cost of Goods Sold. Required: 1. Post the above transactions to T-accounts. 2. Calculate the adjusted cost of goods sold for the period. Jurvin Enterprises is a manufacturing company with no beginning inventories. A subset of the transactions it recorded during a recent month is shown below. a. Purchased $94,000 in raw materials for cash. b. $89,000 in raw materials were used in production, Of this amount, $78,000 was direct materials and the remainder was indirect materials. c. Paid employees $132,000 cash. Of this amount, $112,000 was direct labor and the remainder was indirect labor. d. Paid $143,000 for additional manufacturing overhead costs. e. Applied manufacturing overhead of $152,000 to production using the company's predetermined overhead rate. t. All of the jobs in process at the end of the month were completed. 9. All of the completed jobs were shipped to customers. h. Any underapplied or overapplied overhead was closed to Cost of Goods Sold. Required: 1. Post the above transactions to T-accounts. 2. Calculate the adjusted cost of goods sold for the period..

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Jurvin Enterprises is a manufacturing company with no beginning inventories. A subset of the
transactions it recorded during a recent month is shown below. a. Purchased $94,000 in raw
materials for cash. b. $89,000 in raw materials were used in production. Of this amount, $78,000
was direct materials and the remainder was indirect materials. c. Paid employees $132,000 cash.
Of this amount, $112,000 was direct labor and the remainder was indirect labor. d. Paid
$143,000 for additional manufacturing overhead costs. e. Applied manufacturing overhead of
$152,000 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 was closed to Cost of Goods Sold.
Required: 1. Post the above transactions to T-accounts. 2. Calculate the adjusted cost of goods
sold for the period. Jurvin Enterprises is a manufacturing company with no beginning
inventories. A subset of the transactions it recorded during a recent month is shown below. a.
Purchased $94,000 in raw materials for cash. b. $89,000 in raw materials were used in
production, Of this amount, $78,000 was direct materials and the remainder was indirect
materials. c. Paid employees $132,000 cash. Of this amount, $112,000 was direct labor and the
remainder was indirect labor. d. Paid $143,000 for additional manufacturing overhead costs. e.
Applied manufacturing overhead of $152,000 to production using the company's predetermined
overhead rate. t. All of the jobs in process at the end of the month were completed. 9. All of the
completed jobs were shipped to customers. h. Any underapplied or overapplied overhead was
closed to Cost of Goods Sold. Required: 1. Post the above transactions to T-accounts. 2.
Calculate the adjusted cost of goods sold for the period.

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Jurvin Enterprises is a manufacturing company with no beginning inve.pdf

  • 1. Jurvin Enterprises is a manufacturing company with no beginning inventories. A subset of the transactions it recorded during a recent month is shown below. a. Purchased $94,000 in raw materials for cash. b. $89,000 in raw materials were used in production. Of this amount, $78,000 was direct materials and the remainder was indirect materials. c. Paid employees $132,000 cash. Of this amount, $112,000 was direct labor and the remainder was indirect labor. d. Paid $143,000 for additional manufacturing overhead costs. e. Applied manufacturing overhead of $152,000 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 was closed to Cost of Goods Sold. Required: 1. Post the above transactions to T-accounts. 2. Calculate the adjusted cost of goods sold for the period. Jurvin Enterprises is a manufacturing company with no beginning inventories. A subset of the transactions it recorded during a recent month is shown below. a. Purchased $94,000 in raw materials for cash. b. $89,000 in raw materials were used in production, Of this amount, $78,000 was direct materials and the remainder was indirect materials. c. Paid employees $132,000 cash. Of this amount, $112,000 was direct labor and the remainder was indirect labor. d. Paid $143,000 for additional manufacturing overhead costs. e. Applied manufacturing overhead of $152,000 to production using the company's predetermined overhead rate. t. All of the jobs in process at the end of the month were completed. 9. All of the completed jobs were shipped to customers. h. Any underapplied or overapplied overhead was closed to Cost of Goods Sold. Required: 1. Post the above transactions to T-accounts. 2. Calculate the adjusted cost of goods sold for the period.