Required information [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. $ 26,000 10,000 61,000 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 $ 51,000 20,100 33,000 $ 193,000 100,000 10,000 23,000 92,000 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. repare journal entries for the above transactions for the period.
Required information [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. $ 26,000 10,000 61,000 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 $ 51,000 20,100 33,000 $ 193,000 100,000 10,000 23,000 92,000 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. repare journal entries for the above transactions for the period.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
Topic Video
Question
Please help answer this question. The first part is correct including the number. The 2nd part is correct but I do not know the number. Please help me find correct the number and explain how to get it thank you.
![S
Required information
[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
$ 26,000
10,000
61,000
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
$ 51,000
20,100
33,000
$ 193,000
100,000
< Prev
10,000
23,000
92,000
1. Incurred other actual overhead costs (all paid in Cash).
2. Applied overhead to work in process.
repare journal entries for the above transactions for the period.
3 of 7
‒‒‒
Check m
Next >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6bfe29d4-782f-428b-937b-485b5d1c1aec%2F0377b8ff-8025-489c-a6c1-40bf02f73469%2Fxau0do_processed.jpeg&w=3840&q=75)
Transcribed Image Text:S
Required information
[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
$ 26,000
10,000
61,000
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
$ 51,000
20,100
33,000
$ 193,000
100,000
< Prev
10,000
23,000
92,000
1. Incurred other actual overhead costs (all paid in Cash).
2. Applied overhead to work in process.
repare journal entries for the above transactions for the period.
3 of 7
‒‒‒
Check m
Next >
Transcribed Image Text:ces
Indirect labor used
Other overhead costs
1. Incurred other actual overhead costs (all paid in Cash).
2. Applied overhead to work in process.
epare journal entries for the above transactions for the period.
View transaction list View journal entry worksheet
No
A
B
Transaction
1
23,000
92,000
2
Factory overhead
Cash
Work in process inventory
Factory overhead
< Prev
General Journal
S
3
of 7
www
00
Next >
AITOTARAT
DII
Debit
92,000
F10
Credit
Work
92,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education