Prepare Journal Entries for both.

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. Inventories Beginning of period End of Period Raw materials $ 41,000 $ 42,000 Work in process 9,200 18,000 Finished goods 56,000 34,900 Cost incurred for the period $ 172,000 Raw materials purchases Factory payroll 150,000 Factory overhead (actual) Indirect materials used 12,000 34,500 Indirect labor used Other overhead costs 93,000 Exercise 15-15 (Algo) Recording actual and applied overhead LO P3 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process