Please do not give solution in image format thanku Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions that it recorded during arecent month is shown below.a. $75,500 in raw materials were purchased for cash.b. $72,700 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was forindirect materials.c. Total labor wages of $152,800 were incurred and paid. Of this amount, $133,500 was for direct labor and the remainder was forindirect labor.d. Additional manufacturing overhead costs of $125,200 were incurred and paid.e. Manufacturing overhead of $121,200 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. Post the above transactions to T-accounts.DebitBeginning BalanceEnding BalanceDebiBeginning balanceEnding BalanceDebilBeginning BalanceEnding BalanceCashWork in ProcessManufacturing OverheadCreditCredCreditRequired 1 Required 2Begiving BalanceEnding onceDebitEndng BalanceDebiBeginning BalanceDebilBeginning BalanceRaw MaterialsFinished GoodsCost of Goods SoldRequired:1. Post the above transactions to T-accounts.2. Determine the adjusted cost of goods sold for the period.Determine the adjusted cost of goods sold for the period.Adjusted cost of goods sold< Required 1a. $75,500 in raw materials were purchased for cash.b. $72,700 in raw materials were used in production. Of this amount, $66,000 was forindirect materials.c. Total labor wages of $152,800 were incurred and paid. Of this amount, $133,500 wa:indirect labor.d. Additional manufacturing overhead costs of $125,200 were incurred and paid.e. Manufacturing overhead of $121,200 was applied to production using the company'sf. 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 t Cost of GoodCreditCreditComplete this question by entering your answers in the tabs below.CreatRequired 2 >

T-Account :— It is the ledger account in which journal entries are posted. It is the second step of…

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. $75,500 in raw materials were purchased for cash. b. $72,700 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $152,800 were incurred and paid. Of this amount, $133,500 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 $121,200 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.

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. $75,500 in raw materials were purchased for cash. b. $72,700 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $152,800 were incurred and paid. Of this amount, $133,500 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 $121,200 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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