1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period.
1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
Use the following information to answer questions. (Algo)
[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
Raw materials
Work in process
Finished goods
Beginning of
period
$ 50,000
9,800
68,000
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
$ 40,000
18,000
33,700
1. Raw materials purchases for cash.
2. Direct materials used.
3. Indirect materials used.
$ 189,000
200,000
17,000
46,000
111,500
Exercise 19-13 (Algo) Recording materials; direct and indirect LO P1, P3
Prepare journal entries for the above transactions for the period.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a703dc1-c203-45b3-a859-e6781f25ebca%2F84a68b97-e45e-4c2f-b597-b1710ac875ef%2Fbesyeft_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Use the following information to answer questions. (Algo)
[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
Raw materials
Work in process
Finished goods
Beginning of
period
$ 50,000
9,800
68,000
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
$ 40,000
18,000
33,700
1. Raw materials purchases for cash.
2. Direct materials used.
3. Indirect materials used.
$ 189,000
200,000
17,000
46,000
111,500
Exercise 19-13 (Algo) Recording materials; direct and indirect LO P1, P3
Prepare journal entries for the above transactions for the period.
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