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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
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 Finished goods Beginning of period End of Period $ 37,000 9,900 $ 58,000 56,000 20,900 33,700 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 180,000 300,000 18,000 69,000 120,000 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. Complete this question by entering your answers in the tabs below. Required 1 3 4 and 5 Required 2 Required 134 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 direc 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 use 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 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 und Beginning Raw Materials Inventory Beginning Beginning Work in Process Inventory Be LL 15 En Ending Ending Ending Finished Goods Inventory Factory Overhead Beginning Beginning Beginning Be Ending Ending 18,000 69,000 120,000 Required 134 and 5 Required 2 Compute the cost of direct labor used for the perioc The cost of direct labor for the period es Cost of direct labor used
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