Question

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.

  1. $76,900 in raw materials were purchased for cash.
  2. $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.
  3. 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 labor.
  4. Additional manufacturing overhead costs of $126,000 were incurred and paid.
  5. Manufacturing overhead of $128,600 was applied to production using the company’s predetermined overhead rate.
  6. All of the jobs in process at the end of the month were completed.
  7. All of the completed jobs were shipped to customers.
  8. 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.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
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...
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...
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...
urvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the transactions...
urvin 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. $75,400 in raw materials were purchased for cash. $71,300 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 $151,500 were incurred and paid. Of this amount, $133,600 was for direct labor and the remainder was for indirect...
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...
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...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT