Jurvin Enterprises recorded the following transactions for the just completed mo
ID: 2328023 • Letter: J
Question
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories.
$75,100 in raw materials were purchased for cash.
$71,100 in raw materials were used in production. Of this amount, $66,300 was for direct materials and the remainder was for indirect materials.
Total labor wages of $152,800 were incurred and paid. Of this amount, $133,400 was for direct labor and the remainder was for indirect labor.
Additional manufacturing overhead costs of $125,200 were incurred and paid.
Manufacturing overhead of $128,400 was applied to production using the company’s predetermined overhead rate.
All of the jobs in process at the end of the month were completed.
All of the completed jobs were shipped to customers.
Any underapplied or overapplied overhead for the period was closed to Cost of Goods Sold.
Required:
Post the above transactions to T-accounts.
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.
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.
Explanation / Answer
Cash Raw Materials Beg.bal Beg.bal 75,100 a. a. 75,100 71,100 b. 152,800 c. 125,200 d. end bal 353,100 end bal 4,000 Work in process finished goods Beg.bal Beg.bal b. 66,300 328,100 f. f. 328,100 328,100 g. c. 133,400 e. 128,400 end bal 0 end bal 0 Manufacturing overhead cost of goods sold Beg.bal beg bal 0 b. 4,800 128,400 e. g. 328,100 c. 19,400 21,000 h. h. 21,000 d. 125,200 End bal 0 end bal 349,100 Adjusted cost of goods sold 349,100
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