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 | $ 28,000 | $ 32,000 |
Work in process | 9,800 | 20,200 |
Finished goods | 65,000 | 34,800 |
Cost incurred for the period |
Raw materials purchases | $ 175,000 |
Factory payroll | 200,000 |
Factory overhead (actual) | |
Indirect materials used | 17,000 |
Indirect labor used | 46,000 |
Other overhead costs | 111,500 |
Required Information [The following information applies to the questions displayed below.] The following information is avallable for ADT Company, which produces special-order securlty products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. 1. In the Raw Materlals Inventory T-account, Insert amounts for beginning and ending balances along with purchases and Indirect materlals used. Solve for direct materlals used in the perlod. 2. Compute the cost of direct labor used for the perlod. 3. In the Work in Process Inventory T-account, Insert amounts for beginning and ending balances along with direct materlals used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured In the perlod. 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 perlod (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, Insert amounts for Indirect materlals 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. goods manufactured in the period. under- or overapplied overhead). 2. Compute the cost of direct labor used for the perlod. 3. In the Work in Process Inventory T-account, Insert amounts for beginning and ending balances along with direct materlals used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the perlod. 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 perlod (do not consider any under-or overapplied overhead). 5. In the Factory Overhead T-account, Insert amounts for Indirect materlals 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. goods manufactured in the period. under- or overapplied overhead). The following information is avallable for ADT Company, which produces speclal-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. . In the Raw Materlals Inventory T-account, Insert amounts for beginning and ending balances along with purchases and Indirect naterlals used. Solve for direct materlals used in the perlod. . Compute the cost of direct labor used for the perlod. In the Work in Process Inventory T-account, Insert amounts for beginning and ending balances along with direct materlals used from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the perlod. In Ine Finished Goods Inventory T-account, Insert amounts for beginning and ending balances along with cost of goods nanufactured (from part 3). Solve for cost of goods sold in the perlod (do not consider any under-or overapplied overhead). 5. In the Factory Overhead T-account, Insert amounts for Indirect materlals used, Indirect labor used, other overhead costs, and ipplied overhead. Solve for underapplied or overapplied overhead. Complete this question by entering your answers in the tabs below. Compute the cost of direct labor used for the period