The following information is available for ADT Company, which produces special-order security products and uses a...
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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 predetermined overhead rate of 55% of direct labor cost. Beginning End of Inventories of period Period. $ Raw materials $ 40,000 54,000 Work in 9,400 19,700 process Finished goods 69,000 34,600 Cost incurred for the period Raw materials $ purchases 174,000 Factory payroll 250,000 Factory overhead (actual) Indirect materials 16,000 used Indirect labor 57,500 105,500 used Other overhead costs 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. B. 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. .. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for lirect materials used in the period. . In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct abor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. . 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 anderapplied or overapplied overhead. eginning Raw Materials Inventory Beginning Work in Process Inventory Beginning Beginning nding Ending Ending Ending Finished Goods Inventory Factory Overhead eginning Beginning Beginning Beginning 16,000 57,500 nding Ending 105,500 Show less 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. Beginning End of Inventories of period Period. $ Raw materials $ 40,000 54,000 Work in 9,400 19,700 process Finished goods 69,000 34,600 Cost incurred for the period Raw materials $ purchases 174,000 Factory payroll 250,000 Factory overhead (actual) Indirect materials 16,000 used Indirect labor 57,500 105,500 used Other overhead costs 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. B. 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. .. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for lirect materials used in the period. . In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct abor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. . 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 anderapplied or overapplied overhead. eginning Raw Materials Inventory Beginning Work in Process Inventory Beginning Beginning nding Ending Ending Ending Finished Goods Inventory Factory Overhead eginning Beginning Beginning Beginning 16,000 57,500 nding Ending 105,500 Show less
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1 Raw Materials Inventory Taccount Beginning Balance 40000 Purchases 174000 Indirect Materials Used 16000 Ending Balance 9400 To calculate the Direct ... View the full answer
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