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. Inventories Beginning of period End of Period Raw materials $ 46,000 $ 44,000 Work in process 9,300 18,700 Finished goods 51,000 35,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 182,000 150,000 Indirect materials used Indirect labor used Other overhead costs 9,000 34,500 106,000 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. Required 134 and 5 Required 2 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 per 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 applie 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 p 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 ov Beginning Purchases Ending Beginning Cost of goods manufactured Ending Raw Materials Inventory 45,000 182,000 Work in Process Inventory Beginning 9,000 Indirect materials 219,000 Direct materials Beginning Overhead applied Direct labor 9,300 Beginning 149,500 Cost of goods manufactured 115,500 0 Ending Finished Goods Inventory 45,000 Beginning 45,000 Ending Ending 274,300 Ending Factory Overhead Beginning Beginning Indirect materials Indirect labor 9,000 Overhead applied 34,500 Other overhead Underappled OH 106,000 149,500 Required 1 3 4 and 5 Required 2 Compute the cost of direct labor used for the period. The cost of direct labor for the period Cost of direct labor used < Required 134 and 5 Required 2 > 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. View transaction list Journal entry worksheet < A B C Record the raw material purchases for cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal > 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare Journal entries for the above transactions for the period. View transaction list Journal entry worksheet > A B Record the entry for direct labor used. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal 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. View transaction list Journal entry worksheet < A B Record the entry for other actual overhead costs incurred (all paid in Cash). Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal