Question

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. $76,200 in raw materials were purchased for cash. b. $72,200 in raw materials were used in production. Of this amount, $65,400 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $150,600 were incurred and paid. Of this amount, $134,800 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $126,000 were incurred and paid. e. Manufacturing overhead of $127,600 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. Complete this question by entering your answers in the tabs below.

Please teach me how to answer the question as detail as possible. I have trouble answering them.

Answer 1

Cash					Raw Materials
Beg.bal					Beg.bal
		76,200	a.		a.	76,200
		150,600	c.				72,200	b.
		126,000	d.
end bal		352,800			end bal	4,000
Work in process					finished goods
Beg.bal					Beg.bal
b.	65,400				f.	327,800
c.	134,800						327,800	g.
e.	127,600
		327,800	f.
end bal	0				end bal	0
Manufacturing overhead					cost of goods sold
Beg.bal					beg bal	0
b.	6,800				g.	327,800
c.	15,800				h.	21,000
d.	126,000
		127,600	e
		21,000	h
End bal	0				end bal	348,800
Adjusted cost of goods sold				348,800