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Inventories Beginning of period End of Period Raw materials $ 5 0 , 0 0 0 $ 3 1 , 0 0 0 Work in
Inventories Beginning of period End of Period Raw materials $ $ Work in process Finished goods Cost incurred for the period Raw materials purchases $ Factory payroll Factory overhead actual Indirect materials used Indirect labor used Other overhead costs Exercise Algo Computing materials, labor, overhead, and cost of goods manufactured LO P P P PExercise Computing materials, labor, overhead, and cost of goods manufactured P P P
P
The following information is available for ADT Company, which produces specialorder security products and uses a job order costing
system. Overhead is applied using a predetermined overhead rate of of direct labor cost.
Set up a Raw Materials Inventory Taccount and insert amounts for beginning and ending balances along with purchases and indirect
materials used. Solve for direct materials used in the period.
Compute the cost of direct labor used for the period.
Set up a Work in Process Inventory Taccount and insert amounts for beginning and ending balances along with direct materials used
from part direct labor used from part and applied overhead. Solve for cost of goods manufactured in the period.
Set up a Finished Goods Inventory Taccount and insert amounts for beginning and ending balances along with cost of goods
manufactured from part Solve for cost of goods sold in the period do not consider any under or overapplied overhead
Set up a Factory Overhead Taccount and insert amounts for indirect materials used, indirect labor used, other overhead costs, and
applied overhead. Solve for underapplied or overapplied overhead.
Exercise Recording materials; direct and indirect
Use information in Exercise to prepare journal entries for the following events for the period.
Raw materials purchases for cash.
Direct materials used.
Indirect materials used.
Exercise Recording direct and indirect labor P
Use information in Exercise to prepare journal entries for the following events for the period.
Direct labor used recorded as factory wages payable
Indirect labor used recorded as factory wages payable
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