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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
- 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.
- Compute the cost of direct labor used for the period.
- 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. - 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).
- 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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb5c9e71a-2152-46c3-8ddc-78ecbd167355%2F94a1fb9a-7d41-402e-9a84-f6f67855fb37%2Farzcaqt_processed.png&w=3840&q=75)
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb5c9e71a-2152-46c3-8ddc-78ecbd167355%2F94a1fb9a-7d41-402e-9a84-f6f67855fb37%2F4rgx4ca_processed.png&w=3840&q=75)
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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