Ⓡ Required information Use the following information to answer questions. (Static) [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 70% 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 i Other overhead costs Beginning of Period $ 43,000 10,200 63,000 View transaction list < Exercise 19-13 (Static) Recording materials; direct and indirect LO P1. P3 Exercise 19-13 (Static) 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. A End of Period $ 52,000 21,300 35,600 $ 210,000 345,000 Journal entry worksheet B C 15,000 80,000 120,000 Note: Enter debits before credits. Transaction Record the raw material purchases for cash.. General Journal Debit Credit

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 9EA: A new company started production. Job 10 was completed, and Job 20 remains in production. Here is...
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Required information
Use the following information to answer questions. (Static)
[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 70% of direct labor cost
420
Inventories
Raw materials
Work in process
Finished goods
Cost incurred for the period
<
Beginning of
Period
Raw materials purchases
Factory payroll
Factory overhead (actual)
Indirect materials used
Indirect labor used
Other overhead costs
View transaction list
$ 43,000
10,200
63,000
36.000
Exercise 19-13 (Static) Recording materials; direct and indirect LO P1. P3
Exercise 19-13 (Static) 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.
A
Journal entry worksheet
B C
End of
Period
$ 52,000
21,300
35,600
$ 210,000
345,000
Note: Enter debits before credits.
Transaction
1
15,000
80,000
120,000
Record the raw material purchases for cash.
General Journal
< Prev
stv
Debit
3
Credit
4 5 of 8
ST
all
Next >
A O
Transcribed Image Text:! Required information Use the following information to answer questions. (Static) [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 70% of direct labor cost 420 Inventories Raw materials Work in process Finished goods Cost incurred for the period < Beginning of Period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs View transaction list $ 43,000 10,200 63,000 36.000 Exercise 19-13 (Static) Recording materials; direct and indirect LO P1. P3 Exercise 19-13 (Static) 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. A Journal entry worksheet B C End of Period $ 52,000 21,300 35,600 $ 210,000 345,000 Note: Enter debits before credits. Transaction 1 15,000 80,000 120,000 Record the raw material purchases for cash. General Journal < Prev stv Debit 3 Credit 4 5 of 8 ST all Next > A O
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