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Use the following information to answer questions. (Algo) Skip to question [The following information applies to the questions displayed below.] The following information is available
Use the following information to answer questions. (Algo)
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[The following information applies to the questions displayed below.]
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 | Beginning of period | End of Period |
---|---|---|
Raw materials | $ 45,000 | $ 43,000 |
Work in process | 9,100 | 18,300 |
Finished goods | 63,000 | 34,800 |
Cost incurred for the period | |
---|---|
Raw materials purchases | $ 175,000 |
Factory payroll | 150,000 |
Factory overhead (actual) | |
Indirect materials used | 12,000 |
Indirect labor used | 34,500 |
Other overhead costs | 99,500 |
Exercise 15-15 (Algo) Recording actual and applied overhead LO P3
- Incurred other actual overhead costs (all paid in Cash).
- Applied overhead to work in process.
Prepare journal entries for the above transactions for the period.
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