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.$94,000 in raw materials were purchased for cash. b.$89,000 in raw materials were used in production. Of this amount, $78,000 was for direct materials and the remainder was for indirect materials. c.Total labor wages of $132,000 were incurred and paid. Of this amount, $112,000 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $143,000 were incurred and paid. Post the above transactions to T-accounts.
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.$94,000 in raw materials were purchased for cash. b.$89,000 in raw materials were used in production. Of this amount, $78,000 was for direct materials and the remainder was for indirect materials. c.Total labor wages of $132,000 were incurred and paid. Of this amount, $112,000 was for direct labor and the remainder was for indirect labor. d. Additional manufacturing overhead costs of $143,000 were incurred and paid. Post the above transactions to T-accounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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.$94,000 in raw materials were purchased
for cash.
b.$89,000 in raw materials were used in
production. Of this amount, $78,000 was
for direct materials and the remainder was
for indirect materials.
c.Total labor wages of $132,000 were
incurred and paid. Of this amount,
$112,000 was for direct labor and the
remainder was for indirect labor.
d. Additional manufacturing overhead
costs of $143,000 were incurred and paid.
Post the above transactions to T-accounts.
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