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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
- Incurred other actual overhead costs (all paid in Cash).
- 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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