Jurvin Enterprises is a manufacturing company that had no beginning inventoriesA subset of the transactions that recorded a recent month is shown below 75,700 in raw materials were purchased for cash 71.900 in raw materials were used in production Of this amount, $65,100 was for direct materials and the remainder was for Indirect materiais Total labor wages of \$150.500 were incurred and paid Of this amount, 133,000 was for direct labor and the remainder was for indirect labor dAdditional manufacturing overhead costs of 126,200 were incurred and paid e Manufacturing overhead of 122,500 was applied to production using the company's predetermined rate All of the jobs in process at the end of the month were completed All of the completed jobs were shipped to customers Any underapplied or overapplied overhead for the period was closed to Cost of Goods Sold Required: Post the above transactions to T-accounts Determine the adjusted cost of goods sold for the period

Respuesta :

When the transactions of Jurvin Enterprises are posted to T-accounts, the entries will be:

                                                  Cash                                                  

Beg balance                         $0           Raw materials               $75,700

                                                              Labor wages                $150,500

                                                             Additional overhead     $126,200

                                           Raw materials                                                  

Beg balance                         $0           Direct materials           $71,900

Cash                               $75,700         and overhead

Ending balance           $3,800

                                           Work in process                                                

Beg. balance                    $0                       Finished goods  $320,600

Raw materials          $65,100

Direct labor              $133,000

Man. overhead         $122,500

                                           Finished goods                                                  

Beg. balance                    $0                       Cost of goods sold  $320,600

Work in process     $320,600                  

                                         Manufacturing overhead                                  

Beg. balance                    $0                 Work in process        $122,500

Raw materials                $6,800             Cost of goods sold     $28,000

Indirect labor                $17,500

Cash                              $126,200

                                     Cost of goods sold                                                

Beg. balance                        $0

Finished goods                $320,600

Manufacturing overhead $ 28,000

Ending balance                 $348,600

How are manufacturing overhead accounted for?

The cash spent on overhead is debited to the Manufacturing overhead account and so are the indirect materials.

Indirect labor will also be debited to this account. These are to show that Overhead is a cost. Work in process will be credited to the account to show that the cost of overhead is transferred to another account.

Find out more on manufacturing overhead at https://brainly.com/question/13312583.

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