The following information is available for ADT Company, which produces special-order security products and u 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 $ 41,000 9,600 $ 45,000 65,000 19,400 34,300 Finished goods Cost incurred for the period Raw materials purchases $ 180,000 Factory payroll 100,000 Factory overhead (actual) Indirect materials used 14,000 Indirect labor used 23,000 Other overhead costs 115,000 Exercise 2-13 (Algo) Recording materials; direct and Indirect LO P1, P3 Raw materials purchases for cash. Direct materials used. . Indirect materials used. Prepare journal entries for the above transactions for the period. Answer is complete but not entirely correct. No A Transaction 1 General Journal Debit Credit Raw materials inventory 180,000 Cash 180,000 B 2 Work in process inventory Raw materials inventory 176,000 176,000 C 3 Factory overhead 14,000 Raw materials inventory 14,000