Exercise $3-2($Algo$)$ Prepare T$-$Accounts $[$LO$3-2,$ LO$3-4]$

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a$.$ Purchased $$76,200$ in raw materials for cash.

b$.$ $$72,100$ in raw materials were used in production. Of this amount, $$65,800$ was direct materials and the remainder was indirect materials.

c$.$ Paid employees $$150,900$ cash. Of this amount, $$134,900$ was direct labor and the remainder was indirect labor.

d$.$ Paid $$126,900$ for additional manufacturing overhead costs.

e$.$ Applied manufacturing overh$$ad of $$121,200$ 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 was closed to Cost of Goods Sold.

Required:

Post the above transactions to T $-$accounts.

Calculate the adjusted cost of goods sold for the period.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Post the above transactions to T$-$accounts.

$\backslash$table$[[$Debit Cash,,,$],[,,$Credit$],[$Beginning balance,,,,$],[$a$.,,,,],[,,,,],[,,,,],[,,,,],[$Endina balance,,,,$]]$

$\backslash$table$[[$Raw Materials$],[$Debit$,$Credit$],[$Beginning balance,,,$],[$a$.,76,200,,],[-,,72,100,],[?,,,],[\%,,,],[$Endina balance,$4\mathrm{.}100,,]]$

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