Required information. [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 *1 Inventories Raw materials Work in process Beginning of period $ 40,000 Cost incurred for the period End of Period $ 53,000 9,200 Finished goods 56,000 20,800 33,900 Raw materials purchases $ 185,000 Factory payroll 250,000 Factory overhead (actual) Indirect materials used i 13,000 Indirect labor used. Other overhead costs 57,500 106,000 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. Answer is not complete. 1. In the Raw Materiale Inventory T-account, insert amounts for beginning and ending balances army. 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 aber wie porven para 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 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 underappled or overapp Beginning Purchases Beginning Direct materials Raw Materials Inventory 40,000 Beginning 188,000 O 162,000 Direct materials 13.000 Indirect materials Direct labor Overhead applied 000 Work in Process inventory 9.200 162 000 Deginning Cost of goods manufackred Ending 53,000 Ending Ending 171.200 Ending Finished Goods Inventory Factory Overhead Beginning i 66,000 Beginning Beginning Beginning 13.000 Cost of goods manufactured 0 57.500 106.000 Ending 56.000 Ending 176,500 Required 2> [The following information applies to the questions displayed below] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $102,000 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials Indirect materials $ 50,200 25,600 75,800 10,620 Total materials used $ 86,420 c. Time tickets show the following labor used for the month Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 41,200 14,600 55,800 26,200 $82,000 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 $169,760 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 Rent on factory building (payable) Factory utilities (payable) Expired factory insurance $ 34,000 700 1,000 5,000 40 709 G www < Prev 6 7 of 19 Next > General Journal 1 No Transaction a. 2 b(1). Raw materials inventory Accounts payable Work in process inventory Raw materials inventory 30 Debit Credit 102,000 102,000 75,800 75,800 3 b(2) Factory overhead 10,620 Raw materials inventory 10,620 4 c(1). Work in process inventory 55,800 Factory wages payable 55,800 5 c(2) Factory overhead Factory wages payable 00 26,200 26,200 6 d. Work in process inventory 60,640 Factory overhead 60,640 Finished goods inventory 131,560 131,560 Work in process inventory 169,760 8 f(1). Accounts receivable 169,760 Sales 9 1(2) Cost of goods sold 10 Finished goods inventory Factory overhead 131,560 131,560 40.700 Prey 6 9 of 19 www Next > Required information [The following information applies to the questions displayed below] Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $102,000 of raw materials on credit b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials Indirect materials Total materials used $ 50,200 25,600 75,800 10,620 $ 86,420 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 41,200 14,600 55,800 26,200 $82,000 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 $169,760 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 Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $ 34,000 700 1,000 5,000 $ 40,700 Post entries for transactions a through g to the T-accounts. Each of T-accounts started the month with a zero balance Beginning Balance Raw Materials Inventory 0 102,000 Work in Process Inventory Beginning Balance 0 86,420 b. b Ending balance 15,580 Ending balance Factory Overhead Finished Goods Inventory Beginning Balance 0 Beginning Balance 0 9 g. 34,000 60,640 d 700 g 1,000 9 5,000 Ending balance 0 9 Ending balance Beginning Balance Ending balance Cost of Goods Sold Required information [The following information applies to the questions displayed below] Marco Company shows the following costs for three jobs worked on in April, Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Additional Information Job 306. Job 307 Job 308) $ 28,000 24,000 12,000 $ 40,000 13,000 6,500 131,000 104,000 2 Finished (sold) 210,000 154,000 $110,000 100,000 P Finished (unsold) In process a. Raw Materials Inventory has a March 31 balance of $88,000. b. Raw materials purchases in April are $520,000, and total factory payroll cost in April is $382,000, c. Actual overhead costs incurred in April are indirect materials, $57,000, indirect labor, $24,000, factory rent, $34,000, factory utilities, $21,000; and factory equipment depreciation, $55,000. d. Predetermined overhead rate is 50% of direct labor cost e. Job 306 is sold for $635,000 cash in April. a. Materials purchases (on credit). b. Direct materials used. c. Direct labor used (and paid in cash) and assigned to Work in Process Inventory d. Indirect materials used and assigned to Factory Overhead. e. Indirect labor used (and paid in cash) and assigned to Factory Overhead. f. Overhead costs applied to Work in Process Inventory. g. Actual other overhead costs incurred (Factory rent and utilities are paid in cash) h. Transfer of Jobs 306 and 307 to Finished Goods Inventory. i. Cost of goods sold for Job 306. J. Revenue from the sale of Job 306 received in cash. k. Close underapplied or overapplied overhead to the Cost of Goods Sold account 3. Prepare journal entries for the month of April to record the above transactions. of 19 Next > No Transaction General Journal Debit Credit 1 Raw materials Inventory 520,000 Accounts payable 520.000 2 b. Work in process inventory Raw materials inventory 453,000 453,000 3 Work in process inventory Cash 358,000 358,000 7 4 d. Factory overhead 27.000 Work in process inventory 27,000 5 Work in process inventory 179,000 Factory overhead 179,000 6 Factory overhead 52,000 Raw materials inventory 52,000 7 g Factory overhead 19,000 19.000 Cash 356,500 8 h. Cost of goods sold 356,500 Finished goods inventory Jy 670,000 9 Cash Sales 670,000 m Next >>