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 End of Period $ 39,000 $ 30,000 9,700 54,000 18,500 34,800 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 186,000 100,000 8,000 23,000 98,500 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 underapplied or overapplied overhead. 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. View transaction list Journal entry worksheet > A B C Record the raw material purchases for cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit View general journal Record entry Clear entry > Beginning Ending Beginning Ending Raw Materials Inventory 0 Finished Goods Inventory Beginning Ending Beginning 0 Ending Beginning Ending Work in Process Inventory Beginning 0 Ending Factory Overhead Beginning Beginning 8,000 23,000 98,500 129,500 Compute the cost of direct labor used for the period. The cost of direct labor for the period Cost of direct labor used 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. View transaction list Journal entry worksheet A B C Record the direct materials used. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit View general journal Record entry Clear entry > 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. View transaction list Journal entry worksheet A B Record the entry for direct labor used. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit View general journal Record entry Clear entry > 4 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. :02 View transaction list Journal entry worksheet < A B Record the entry for indirect labor used. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit View general journal Record entry Clear entry 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the period. View transaction list Journal entry worksheet A B Record the entry for other actual overhead costs incurred (all paid in Cash). Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry > View general journal G 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the period. View transaction list Journal entry worksheet > A B Record the entry to apply overhead to work in process. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit View general journal Record entry Clear entry