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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
The following information is available for ADT Company, which produces specialorder security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of of direct labor cost.
Inventories Beginning of period End of Period
Raw materials $ $
Work in process
Finished goods
Cost incurred for the period
Raw materials purchases $
Factory payroll
Factory overhead actual
Indirect materials used
Indirect labor used
Other overhead costs
Exercise Algo Computing materials, labor, overhead, and cost of goods manufactured LO P P P P
In the Raw Materials Inventory Taccount, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period.
Compute the cost of direct labor used for the period.
In the Work in Process Inventory Taccount, insert amounts for beginning and ending balances along with direct materials used from part direct labor used from part and applied overhead. Solve for cost of goods manufactured in the period.
In the Finished Goods Inventory Taccount, insert amounts for beginning and ending balances along with cost of goods manufactured from part Solve for cost of goods sold in the period do not consider any under or overapplied overhead
In the Factory Overhead Taccount, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead.
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