Jurvin Enterprises is a manufacturing company that had no
beginning inventories. A subset of the transactions...
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Accounting
Jurvin Enterprises is a manufacturing company that had nobeginning inventories. A subset of the transactions that itrecorded during a recent month is shown below.
$75,100 in raw materials were purchased for cash.
$72,100 in raw materials were used in production. Of thisamount, $66,900 was for direct materials and the remainder was forindirect materials.
Total labor wages of $151,600 were incurred and paid. Of thisamount, $134,400 was for direct labor and the remainder was forindirect labor.
Additional manufacturing overhead costs of $125,200 wereincurred and paid.
Manufacturing overhead of $120,600 was applied to productionusing the company’s predetermined overhead rate.
All of the jobs in process at the end of the month werecompleted.
All of the completed jobs were shipped to customers.
Any underapplied or overapplied overhead for the period wasclosed to Cost of Goods Sold.
Required:
Post the above transactions to T-accounts.
Determine the adjusted cost of goods sold for the period.
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cash account particular amount particular amount rae material 7510000 work in progress 13440000 manufacturing overhead 1720000 manufacturing overhead 12520000 balance cf 35190000 total 35190000 total 35190000 work in progress
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