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 Work in process $ 41,000 $ 49,000 9,600 Finished goods 62,000 18,000 33,600 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 197,000 300,000 9,000 69,000 118,500 Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4 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. Complete this question by entering your answers in the tabs below. Required 13 4 Required 2 and 5 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. Beginning Purchases Ending Beginning Cost of goods manufactured Ending Raw Materials Inventory 41,000 197,000 Beginning 9,000 Indirect materials Beginning Direct materials Direct labor Overhead applied 229,000 Finished Goods Inventory Ending Ending Work in Process Inventory 9,600 9,600 Beginning Cost of goods manufactured Ending Factory Overhead Beginning Overhead applied Beginning Cost of goods sold Beginning Indirect labor Overhead applied 9,000 69,000 0 Ending 118,500 Underapplied OH 196,500 < Required 1 3 4 and 5 Required 2 > Show more