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 $ 40,000 9,900 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 $ 52,000 20,000 33,400 $191,000 150,000 9,000 34,500 104,000 Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
Cost incurred for the period
Raw materials purchases
Factory payroll
Factory overhead (actual).
Indirect materials used.
Indirect labor used
Other overhead costa
Beginning of
period
$ 40,000
9,900
61,000
View transaction list
Journal entry worksheet
<
A
Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3
1. Raw materials purchases for cash.
2. Direct materials used.
3. Indirect materials used.
Prepare journal entries for the above transactions for the period.
Pound them
B
End of
Period
$ 52,000
20,000
33,400
C
$ 191,000
150,000
9,000
34,500
104,000
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 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual). Indirect materials used. Indirect labor used Other overhead costa Beginning of period $ 40,000 9,900 61,000 View transaction list Journal entry worksheet < A Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. Pound them B End of Period $ 52,000 20,000 33,400 C $ 191,000 150,000 9,000 34,500 104,000
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