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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
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 period End of Period: $ 49,000 $ 46,000 9,200 58,000 20,300 34,400 Finished goods Cost incurred for the period Raw materials purchases $ 171,000 Factory payroll 150,000 Factory overhead (actual) Indirect materials used 18,000 Indirect labor used 34,500 Other overhead costs 94,000 Exercise 19-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period.
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