Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required Information Use the following information to answer questions. (Algo) The following information applies to the questions displayed below] The following information is available for

Required Information Use the following information to answer questions. (Algo) 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 Raw materials Work in process Beginning of End of Period period $40,000 $ 50,000 9,688 69,000 18,800 33,800 Finished goods Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 180,000 250,000 9,000 57,500 91,500 xercise 2-13 (Algo) Recording materials; direct and Indirect LO P1, P3 Raw materials purchases for cash. Direct materials used. . 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 General Journal Debit Credit QS 2-16 (Algo) Preparing and Interpreting job cost sheet LO P1, P2, P3 A company that uses job order costing reports the costs incurred below. Overhead is applied at the rate of 41% of direct materials cosm The company has no beginning Work in Process or Finished Goods Inventories. Jobs 1 and 3 are not finished by the end of the month and Job 2 is finished but not sold by month-end. Direct materials used Direct labor used Job 1 $5,200 $ 11,700 Job 2 dob $7,200 $5,600 $3,700 $4,600 1. Prepare job cost sheets that have direct materials, direct labor, and overhead applied for each of the three jobs for the month. 2. Determine the total dollar amount of Work in Process Inventory at the end of the month 3. Determine the total dollar amount of Finished Goods Inventory at the end of the month. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare job cost sheets that have direct materials, direct labor, and overhead applied for each of the three jobs for the month. Direct materials Direct labor Overhead Total JOB COST SHEET Job 1 Job 2 Job 3 Required 2 >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Management Accounting

Authors: Charles T. Horngren, Gary Sundum, Gary L. Sundem

8th Edition

0134870751, 978-0134870755

More Books

Students also viewed these Accounting questions