Question

3 Exercises Saved Help Save & Exit Check my Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. ed a. $76,100 in raw materials were purchased for cash. b. $72,400 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $152,400 were incurred and paid. Of this amount, $134,100 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $125,700 were incurred and paid. e. Manufacturing overhead of $121,400 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. ok at ances 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. Required 1 Required 2 Prev 1 of 3 !!! Next > tv 16

Answer 1

Cash Raw Material 1 Beg.Bal a Beg.Bal с 76100 152400 125700 a 76100 b 72400 d End Bal. 354200 End Bal. 3700 Work in process Finished Goods Beg.Bal b Beg.Bal f 321500 321500 с 66000 134100 121400 f 321500 End Bal. End Bal. Cost of goods sold Beg.Bal e Manufacturing Overhead Beg.Bal b 6400 121400 18300 h 29000 d 125700 End Bal. 321500 29000 с h End Bal. 350500 2 Compute adjusted cost of goods sold as follows: Adjusted cost of goods sold = Applied overheads + Goods shipped to customers Adjusted cost of goods sold = 29000 + 321500 Adjusted cost of goods sold = $350500

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