Chapter 3 Exercises Help Seve &Exin Submin Exercise 3-2 Prepare T-Accounts [LO3-

Question

Chapter 3 Exercises Help Seve &Exin Submin Exercise 3-2 Prepare T-Accounts [LO3-2, LO3-4) Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories b. $72.900 in raw matenals were used in production Of this amount, $65,100 was for direct materials and the remainder was for 15 indirect materials c Total labor wages of $152.400 were incurred and paid. Of this amount, $133,200 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $125,800 were incurred and paid e.Manufacturing overheadof $124,8 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 Owas a pled to roduction usingthe company's predetem nedo ert eod rate. Required: 1 Post the above transactions to T-accounts 2 Determine the adjusted cost of goods sold for the peniod Complete this question by entering your answers in the tabs below Prev 1 of 4 Next O Type here to search

Explanation / Answer

Cash Raw Materials Beg.bal Beg.bal 76,300 a. a. 76,300 152,400 c. 72,900 b. 125,800 d. end bal 354,500 end bal 3,400 Work in process finished goods Beg.bal Beg.bal b. 65,100 f. 323,100 c. 133,200 323,100 g. e. 124,800 323,100 f. end bal 0 end bal 0 Manufacturing overhead cost of goods sold Beg.bal beg bal 0 b. 7,800 g. 323,100 c. 19,200 h. 28,000 d. 125,800 124,800 e 28,000 h End bal 0 end bal 351,100 Adjusted cost of goods sold 351,100

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