Question

2 1 points indirect materials. Exercise 3-2 Prepare T-Accounts (LO3-2, LO3-4] 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. $76,900 in raw materials were purchased for cash. b. $72,200 in raw materials were used in production. Of this amount, $65,800 was for direct materials and the remainder was for c. Total labor wages of $152,100 were incurred and paid. Of this amount, $133,500 was for direct labor and the remainder was for indirect d. Additional manufacturing overhead costs of $125,200 were incurred and paid. e. Manufacturing overhead of $127,200 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. direct labor Required: 1. Post the above transactions to T-accounts. 2. Determine the adjusted cost of goods sold for the period. X is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Post the above transactions to T-accounts. Cash Raw Materials 76,900 X 72,200 X Beg. Bal. Beg. Bal. 76,900 152,100 143,000 X End. Bal. 372,000 End. Bal 4,700 Work in Process Finished Goods

Answer 1

Cash				.	Raw Materials
Beg. Bal.					Beg. Bal.
		$     76,900	a.
		$ 1,52,100	c.		a.	$     76,900	$     72,200	b.
		$ 1,25,200	d.
End. Bal.	$ 3,54,200				End. Bal.	$       4,700
Work in Process					Finished Goods
Beg. Bal.					Beg. Bal.
b.	$     65,800				f.	$ 3,26,500	$ 3,26,500	f.
c.	$ 1,33,500
e.	$ 1,27,200	$ 3,26,500	f.
End. Bal.					End. Bal.
Manufacturing Overheads					Cost of Goods Sold
Beg. Bal.					Beg. Bal.
b.	$       6,400	$ 1,27,200	e.		f.	$ 3,26,500
c.	$     18,600	$     23,000	g.		g.	$     23,000
d.	$ 1,25,200
End. Bal.					End. Bal.		$ 3,49,500
Adjusted Cost of Goods sold	=	$ 3,49,500

Note: Beginning balances are Nil therefore do not fill the first coloumn of each ledger