! 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. End of Period Beginning of period $ 45,000 9,600 68,000 Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. X Answer is complete but not entirely correct. No Transaction General Journal Debit Credit A 1 Work in process inventory 250,000 X Direct labor used 250,000 X В 2 Factory overhead 57,500 Factory wages payable 57,500

! 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. End of Period Beginning of period $ 45,000 9,600 68,000 Inventories Raw materials Work in process Finished goods $ 45,000 19,000 33,500 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs $ 178,000 250,000 9,000 57,500 115,500 Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. X Answer is complete but not entirely correct. No Transaction General Journal Debit Credit A 1 Work in process inventory 250,000 X Direct labor used 250,000 X В 2 Factory overhead 57,500 Factory wages payable 57,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following information to answer questions. (Algo) 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 [The following information applies to the questions displayed below.] Raw materials Work in process Finished goods Beginning of period $ 48,000 9,000 65,000 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 $ 43,000 20,700 34,900 $ 179,000 250,000 12,000 57,500 114,500
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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 End of Period $ 27,000 $ 54,000 9,600 60,000 19,900 34,700 Cost incurred for the period Raw materials purchases $ 179,000 Factory payroll 150,000 Factory overhead (actual) Indirect materials used 13,000 Indirect labor used Other overhead costs 34,500 103,500 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. Prepare 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. Beginning of period $ 50,000 9,100 60,000 End of Inventories Period Raw materials $ 50,000 Work in process Finished goods 19,700 34,800 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 178,000 300,000 17,000 69,000 101,000 Indirect materials used Indirect labor used Other overhead costs 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process.
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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. Inventories Raw materials Work in process Finished goods
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Predetermined Factory Overhead Rate Turbo Shop uses job order costing to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows: Engine parts $400,000 Shop direct labor 1,992,000 Shop and repair equipment depreciation 64,220 Shop supervisor salaries 210,000 Shop property taxes 57,390 Shop supplies 14,500 32,000 230,000 12,000 $3,012,110 Advertising expense Administrative office salaries Administrative office depreciation expense Total costs and expenses The average shop direct labor rate is $40.00 per hour. Determine the predetermined shop overhead rate per direct labor hour. Round the answer to nearest whole cent.
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Subject:- accounting