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a. Purchased $100,900 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 $ 49, 100 Job
a. Purchased $100,900 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 $ 49, 100 Job 202 24,500 Total direct materials 73, 600 Indirect materials 9, 520 Total materials used $ 83, 120 c. Time tickets show the following labor used for the month. Job 201 $ 40, 100 Job 202 13 , 500 Total direct labor 53, 600 Indirect labor 25 , 100 Total labor used $ 78, 700 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. (1) Sold Job 201 for $166,460 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment $ 32,900 Rent on factory building (payable) 590 Factory utilities (payable) 890 Expired factory insurance 3,900 Total other factory overhead costs $ 38, 280 Post entries for transactions a through g to the T-accounts. Each of T-accounts started the month with a zero balance. Raw Materials Inventory Beginning Balance 0 Beginning Balance Ending balance T Ending balance Factory Overhead Finished Goods Inventory Beginning Balance 0 Beginning Balance 0 Ending balance 0 Ending balance 0 Cost of Goods Sold Beginning Balance 0 Ending balance 0[The following information applies to the questions displayed below.] The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of End of Inventories period Period Raw materials 48, 00 $ 60,000 Work in process 9,500 20,200 Finished goods 62,000 34, 300 Cost incurred for the period Raw materials purchases $ 197, 000 Factory payroll 250,000 Factory overhead (actual) Indirect materials used 9, 000 Indirect labor used 57,500 Other overhead cost 96, 000 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. 2. Compute the cost of direct labor used for the period. 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Complete this question by entering your answers in the tabs below. Required 1 3 4 and 5 Required 2 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Show less Raw Materials Inventory Work in Process Inventory Beginning Beginning Beginning Beginning Ending Ending Ending 0 Ending Finished Goods Inventory Factory Overhead Beginning Beginning Beginning Beginning 9,000 57,500 Ending Ending 6,000 62,500Required information {The foitowfng infomatfon applies to the questions displayed below} The following information is available for ADT Company. which produces special-order security products and uses ajob order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Beginning of End of Inventories period Period Raw materials $ 43,000 $ 60,000 Work in process 9,500 20,200 Finished goods 62,000 34,300 Cast incurred for the period Raw materials purchases $ 197,000 Factory payroll 250,000 Factory overhead {actual} Indirect materials used 9,000 Indirect labor used 57,500 other overhead costs 96,000 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. 2. Compute the cost of direct labor used for the period. 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used {from part 1}. direct labor used [from part 2}. and applied overhead. Solve for cost of goods manufactured in the period. 4. In the Finished Goods Inventory T-account. insert amounts for beginning and ending balances along with cost of goods manufactured [from part 3}. Solve for cost of goods sold in the period {do not consider any under- or overapplied overhead]. 5. In the Factory Overhead T-account, insert amounts for indirect materials used. indirect labor used. other overhead costs, and applied overhead. Solve for underapplied oroverapplied overhead. Complete this question by entering your answers In the tabs below. Required 1 3 4 and 5 Required 2 Cost of direct labor used Record the entry for other actual overhead costs incurred (all paid in Cash). Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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