Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it re

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Jurvin Enterprises Is A Manufacturing Company That Had No Beginning Inventories A Subset Of The Transactions That It Re 1 (34.68 KiB) Viewed 71 times

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Jurvin Enterprises Is A Manufacturing Company That Had No Beginning Inventories A Subset Of The Transactions That It Re 4 (30.54 KiB) Viewed 71 times

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. $76,100 in raw materials were purchased for cash. b. $71,800 in raw materials were used in production of this amount, $65,500 was for direct materials and the remainder was for Indirect materials c. Total labor wages of $151700 were incurred and paid. Of this amount, $134 400 was for direct labor and the remainder was for indirect labor d Additional manufacturing overhead costs of $125,400 were incurred and paid e Manufacturing overhead of $128,000 was applied to production using the company's predetermined overhead rate. 1. 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.
Required 1 Required 2 Post the above transactions to T-accounts. Cash Raw Materials Credit Debit Beginning balance Credit Debit Beginning balance Ending balance Ending balance Work in Process Finished Goods Credit Credit Debit Beginning balance Debit Beginning balance Prey 1 of 108 Next >
Check my work Work in Process Finished Goods Credit Debit Beginning balance Credit Debit Beginning balance Ending balance Ending balance Cost of Goods Sold Manufacturing Overhead Debit Beginning balance Credit Credit Debit Beginning balance Ending balance Ending balance
Check e Manufacturing overhead of $128.000 was applied to production using the company's predetermined overhead rate. 1. 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. Required 1 Required 2 Determine the adjusted cost of goods sold for the period. Adjusted cost of goods sold < Required 1 Required 2