Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it re
Posted: Sun Jul 03, 2022 3:56 pm
company that had no beginning inventories. A subset of the transactions that it recorded during a recent month is shown below. a. $76,800 in raw materials were purchased for cash. b. $72,400 in raw materials were used in production. Of this amount, $65,600 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $151,100 were incurred and paid. Of this amount, $133,600 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $125,200 were incurred and paid. e Manufacturing overhead of $123,500 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. Required 1 Required 2 Post the above transactions to T-accounts.
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. Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance Cash Work in Process Manufacturing Overhead Credit Credit Credit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Ending Balance Debit Beginning Balance Raw Materials Finished Goods Cost of Goods Sold Credit Credit Credit
e Manufacturing overhead of $123,500 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
Jurvin Enterprises is a manufacturing 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. Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance Debit Beginning Balance Ending Balance Cash Work in Process Manufacturing Overhead Credit Credit Credit Beginning Balance Ending Balance Debit Ending Balance Beginning Balance Debit Ending Balance Debit Beginning Balance Raw Materials Finished Goods Cost of Goods Sold Credit Credit Credit
e Manufacturing overhead of $123,500 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