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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
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 End of period Period Raw materials $38,000 $40,000 Work in process 9,800 19,100 Pinished goods 63,000 34,400 Cost incurred for the period Rav materials purchases 171,000 Factory payroll 250,000 Factory overhead (actual) Indirect materials used 13,000 Indirect labor used 57,500 Other overhead costs 114,500 1. Raw materials purchases for cash. 2. Direct materials used. 3, Indirect materials used, Prepare iournal entries for the above transactions for the period.
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