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 End of Period period Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 41,000 9,200 50,000 Indirect materials used Indirect labor used Other overhead costs $ 42,000 20,700 33,700 $ 176,000 150,000 8,000 34,500 117,500 Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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  1. n the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period.
  2. Compute the cost of direct labor used for the period.
  3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period.
  4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead).
  5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead.
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
Cost incurred for the period
Raw materials purchases
Factory payroll
Factory overhead (actual)
$ 41,000
9,200
50,000
Indirect materials used
Indirect labor used
Other overhead costs
End of Period
$ 42,000
20,700
33,700
$ 176,000
150,000
8,000
34,500
117,500
Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2,
P3, P4
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 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 41,000 9,200 50,000 Indirect materials used Indirect labor used Other overhead costs End of Period $ 42,000 20,700 33,700 $ 176,000 150,000 8,000 34,500 117,500 Exercise 15-12 (Algo) Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4
Required 1 3 4
and 5
Beginning
1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials use
3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2
goods manufactured in the period.
4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods :
under- or overapplied overhead).
5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or ov
Ending
Beginning
r
Required 2
Raw Materials Inventory
0
Finished Goods Inventory
Beginning
Ending
Beginning
Beginning
Ending
Beginning
Work in Process Inventory
0
Factory Overhead
8,000
21 500
Beginning
Ending
Beginning
Transcribed Image Text:Required 1 3 4 and 5 Beginning 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials use 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2 goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods : under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or ov Ending Beginning r Required 2 Raw Materials Inventory 0 Finished Goods Inventory Beginning Ending Beginning Beginning Ending Beginning Work in Process Inventory 0 Factory Overhead 8,000 21 500 Beginning Ending Beginning
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