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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 and
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 70% of direct labor cost. Beginning of Inventories Period End of Period Raw materials $ 43, 090 $ 52,000 Work in process 10, 200 21, 300 Finished goods 63, 090 35, 600 Cost incurred for the period Raw materials purchases $ 210,000 Factory payroll 345,900 Factory overhead (actual) Indirect materials used 15, 900 Indirect labor used 80,000 Other overhead costs 120, 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 1 3 4 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 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. Show lessA Raw Materials Inventory Work in Process Inventory Beginning 43,000 Beginning Beginning 10,200 Beginning Purchases 210,000 Direct materials Direct materials Cost of goods manufactured 15,000 Indirect materials Direct labor Overhead applied Ending 238,000 Ending Ending 10,200 Ending Finished Goods Inventory Factory Overhead Beginning Beginning Beginning Beginning Cost of goods manufactured Indirect materials 15,000 Indirect labor 80,000 Ending 0 Ending Other overhead 120,000 Underapplied OH 215,000Complete this question by entering your answers in the tabs below. 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
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