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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 $ 39,000 Work in process Finished goods 9,700 60,000 Beginning of period End of Period $31,000 18,400 33,400 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used $ 175,000 250,000 7,000 Indirect labor used Other overhead costs 57,500 107,000 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 underappiled or overapplied overhead. Complete this question by entering your answers in the tabs below. Required 13 4 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 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. 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. Beginning Purchases Raw Materials Inventory 39,000 175,000 Beginning Direct materials Beginning 7,000 Indirect materials Direct materials Direct labor 207,000 Overhead applied Ending Ending Ending Finished Goods Inventory Beginning Beginning Cost of goods manufactured Ending 0 Ending Work in Process Inventory Beginning Ending Factory Overhead Beginning Beginning Indirect materials Indirect labor 7,000 57,500 Other overhead Underapplied OH 107,000 171,500 Show less A
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