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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 | $ 28,000 | $ 35,000 |
Work in process | 9,800 | 20,800 |
Finished goods | 63,000 | 34,700 |
Cost incurred for the period | |
---|---|
Raw materials purchases | $ 189,000 |
Factory payroll | 200,000 |
Factory overhead (actual) | |
Indirect materials used | 7,000 |
Indirect labor used | 46,000 |
Other overhead costs | 111,500 |
Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3
- Raw materials purchases for cash.
- Direct materials used.
- Indirect materials used.
Prepare journal entries for the above transactions for the period.
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