60.1K

Verified Solution

Link Copied!

Jurvin Enterprises is a manufacturing company that had no beginning imventories. A subset of the transactions that it recorded during a recent month is shown below. a. $76,400 in raw materlals were purchased for cosh. b. $71,900 in raw materials were used in production. Of this amount, $65,200 was for direct moterials and the remainder was for indirect materials. c. Total labor wages of $152,300 were incurred and paid, Of this amount. $133,500 was for direct labor and the remainder was for indirect labor. d. Additional manufocturing overhead costs of $125,500 were incurred and paid. e. Manufacturing overhead of $123,000 was applied to production using the company's predotermined overhead rate, t. All of the jobs in process at the end of the month were completed. 9. All of the completed jobs were shipped to customers. h. Any underepplied or overapplied overhead for the poriod was closed to Cost of Goods Sold. Required: 1. Post the above tranisactions 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. Post the above transsctions to T-accounts: Post the above transactions to T-accounts. Required: 1. Post the above transactions to T-accounts. 2. Determine the aljusted cost of goods sold for the period. Complete this question by entering your answers in the tabs below. Determine the adjusted cont of goods sold for the period

Answer & Explanation Solved by verified expert

See Answer