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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 a
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 Finished goods Beginning of period $ 29,000 9,800 51,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs End of Period $ 50,000 18, 800 34,800 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. $ 171,000 150,000 7,000 34,500 94,000
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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