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. Beginning End of of period Period Raw materials $ 38,000 $ 41,000 Work in 9,200 20,300 process Finished goods 63,000 33,500 Inventories Cost incurred for the period Raw materials $ purchases Factory payroll Factory overhead (actual) Indirect materials. used Indirect labor used Other overhead costs 184,000 300,000 13,000 69,000 107,000 Exercise 19-14 (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.
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. Beginning End of of period Period Raw materials $ 38,000 $ 41,000 Work in 9,200 20,300 process Finished goods 63,000 33,500 Inventories Cost incurred for the period Raw materials $ purchases Factory payroll Factory overhead (actual) Indirect materials. used Indirect labor used Other overhead costs 184,000 300,000 13,000 69,000 107,000 Exercise 19-14 (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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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.
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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.
Beginning End of
of period
Period
$
41,000
Work in
9,200
20,300
process
Finished goods 63,000 33,500
Inventories
Raw materials $ 38,000
Cost incurred for the period
Raw materials
purchases
$
Factory payroll
Factory overhead
(actual)
Indirect materials
<
used
Indirect labor
used
Other overhead
costs
Exercise 19-14 (Algo) Recording direct and indirect labor LO P2, P3
View transaction list
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.
Journal entry worksheet
A
184,000
300,000
13,000
69,000
107,000
B
Transaction
1
Record the entry for direct labor used.
Note: Enter debits before credits.
General Journal
Debit
Credit
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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.
Beginning End of
of period
Period
$
41,000
Work in
9,200
20,300
process
Finished goods 63,000 33,500
Inventories
Raw materials $ 38,000
Cost incurred for the period
Raw materials
purchases
$
Factory payroll
Factory overhead
(actual)
Indirect materials
<
used
Indirect labor
used
Other overhead
costs
Exercise 19-14 (Algo) Recording direct and indirect labor LO P2, P3
View transaction list
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.
Journal entry worksheet
A
184,000
300,000
13,000
69,000
107,000
B
Transaction
1
Record the entry for direct labor used.
Note: Enter debits before credits.
General Journal
Debit
Credit
>
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