Question

Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning...

Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories. a. $75,200 in raw materials were purchased for cash. b. $72,600 in raw materials were requisitioned for use in production. Of this amount, $66,400 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $151,000 were incurred and paid. Of this amount, $133,000 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 overhead costs of $120,000 were applied to jobs using the company’s predetermined overhead rate. f. All of the jobs in progress at the end of the month were completed and shipped to customers. g. Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold. Required: 1. Post the above transactions to T-accounts

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Raw material Wages Factory overhead
Ref Debit Ref Credit Ref Debit Ref Credit Ref Debit Ref Credit
a 75200 b 66400 c 151000 c 133000 b 6200 e 120000
b 6200 c 18000 c 18000 g 30000
d 125800
75200 72600 151000 151000 150000 150000
Beg.Bal. 2600
Work in process Finished goods Cost of goods sold
Ref Debit Ref Credit Ref Debit Ref Credit Ref Debit Ref Credit
b 66400 f 319400 f 319400 f 319400 f 319400
c 133000 g 30000
e 120000 319400 319400 349400
319400 319400
Cash
Ref Debit Ref Credit
a 75200
c 151000
d 125800
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning...
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories.    a. $75,100 in raw materials were purchased for cash. b. $72,000 in raw materials were requisitioned for use in production. Of this amount, $65,900 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $151,300 were incurred and paid. Of this amount, $133,400 was for direct labor and the remainder was for indirect labor. d. Additional...
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning...
Jurvin Enterprises recorded the following transactions for the just completed month. The company had no beginning inventories.    a. $76,100 in raw materials were purchased for cash. b. $72,100 in raw materials were requisitioned for use in production. Of this amount, $65,500 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $150,500 were incurred and paid. Of this amount, $133,300 was for direct labor and the remainder was for indirect labor. d. Additional...
Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...
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. $76,900 in raw materials were purchased for cash. $72,600 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $151,800 were incurred and paid. Of this amount, $133,800 was for direct labor and the remainder was for indirect...
Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...
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. $75,800 in raw materials were purchased for cash. $71,900 in raw materials were used in production. Of this amount, $66,200 was for direct materials and the remainder was for indirect materials. Total labor wages of $150,700 were incurred and paid. Of this amount, $134,200 was for direct labor and the remainder was for indirect...
Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...
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. $75,700 in raw materials were purchased for cash. $71,800 in raw materials were used in production. Of this amount, $65,400 was for direct materials and the remainder was for indirect materials. Total labor wages of $152,600 were incurred and paid. Of this amount, $134,300 was for direct labor and the remainder was for indirect...
Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...
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. $76,200 in raw materials were purchased for cash. $71,000 in raw materials were used in production. Of this amount, $65,200 was for direct materials and the remainder was for indirect materials. Total labor wages of $152,000 were incurred and paid. Of this amount, $133,200 was for direct labor and the remainder was for indirect...
Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...
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. $75,300 in raw materials were purchased for cash. b. $71,200 in raw materials were used in production. Of this amount, $65,300 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $152,600 were incurred and paid. Of this amount, $133,100 was for direct labor and the remainder...
Kirkaid Company recorded the following transactions for the just completed month: a. $94,000 in raw materials...
Kirkaid Company recorded the following transactions for the just completed month: a. $94,000 in raw materials were requisitioned for use in production. Of this amount, $77,000 was for direct materials and the remainder was for indirect materials. b. Total labor wages of $118,000 were incurred. Of this amount, $110,000 was for direct labor and the remainder was for indirect labor. c. Additional actual manufacturing overhead costs of $202,000 were incurred. d. A total of $232,000 in manufacturing overhead was applied...
Kirkaid Company recorded the following transactions for the just completed month: a. $118,000 in raw materials...
Kirkaid Company recorded the following transactions for the just completed month: a. $118,000 in raw materials were requisitioned for use in production. Of this amount, $89,000 was for direct materials and the remainder was for indirect materials. b. Total labor wages of $142,000 were incurred. Of this amount, $122,000 was for direct labor and the remainder was for indirect labor. c. Additional actual manufacturing overhead costs of $214,000 were incurred. d. A total of $268,000 in manufacturing overhead was applied...
Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...
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. $75,700 in raw materials were purchased for cash b. $71,600 in raw materials were used in production. Of this amount, $65,400 was for direct materials and the remainder was for indirect matierals. c. Total labor wages of $150,500 were incurred and paid. Of this amount, $133,200 was for direct labor and the remainder...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT