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equired information Skip to question [The following information applies to the questions displayed below.] The following information is available for chegg Company, which produces special-order

equired information

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[The following information applies to the questions displayed below.]

The following information is available for chegg 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.

InventoriesBeginning of periodEnd of PeriodRaw materials$ 43,000$ 48,000Work in process9,30020,900Finished goods69,00033,200Cost incurred for the periodRaw materials purchases$ 177,000Factory payroll250,000Factory overhead (actual) Indirect materials used16,000Indirect labor used57,500Other overhead costs114,500

  1. Incurred other actual overhead costs (all paid in Cash).
  2. Applied overhead to work in process.

Prepare journal entries for the above transactions for the period.

  • Record the entry to apply overhead to work in process.

the number is not 137500 - its not 250000 x 55%, please help thank you

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