Question
Required information Use the following information to answer questions. (Algo) Skip to question [The following information applies to the questions displayed below.] The following information
Required information
Use the following information to answer questions. (Algo)
Skip to question
[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 | $ 55,000 |
Work in process | 9,200 | 20,400 |
Finished goods | 60,000 | 34,500 |
Cost incurred for the period | |
Raw materials purchases | $ 191,000 |
---|---|
Factory payroll | 100,000 |
Factory overhead (actual) | |
Indirect materials used | 16,000 |
Indirect labor used | 23,000 |
Other overhead costs | 108,000 |
rev: 05_26_2021_QC_CDR-376
Exercise 19-15 (Algo) Recording actual and applied overhead LO P3
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.
Exercise 19-14 (Algo) Recording direct and indirect labor LO P2, P3
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.
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