Jurvin Enterprises is a manufacturing company with no beginning inventories. A subset of the transactions it recorded during a recent month is shown below.
Purchased $75,900 in raw materials for cash.
$72,200 in raw materials were used in production. Of this amount, $66,900 was direct materials and the remainder was indirect materials.
Paid employees $150,500 cash. Of this amount, $133,800 was direct labor and the remainder was indirect labor.
Paid $126,500 for additional manufacturing overhead costs.
Applied manufacturing overhead of $122,500 to production using the company’s predetermined overhead rate.
1. Calculate the adjusted cost of goods sold for the period.
