[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 $36,000 9,500 55,000 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 $ 47,000 20,300 34,400 $ 195,000 300,000 7,000 69,000 90,500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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[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)
Beginning of
period
Indirect materials used
Indirect labor used
Other overhead costs
$ 36,000
9,500
55,000
1. Raw materials purchases for cash.
2. Direct materials used.
3. Indirect materials used.
View transaction list
<
Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3
Journal entry worksheet
B Smy
A
Prepare journal entries for the above transactions for the period.
Record the indirect materials used.
Transaction
3
Note: Enter debits before credits.
Record entry
End of
Period
$ 47,000
20,300
34,400
$ 195,000
300,000
7,000
69,000
90,500
General Journal
Clear entry
Debit
Credit
View general journal
Transcribed Image Text:[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) Beginning of period Indirect materials used Indirect labor used Other overhead costs $ 36,000 9,500 55,000 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. View transaction list < Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3 Journal entry worksheet B Smy A Prepare journal entries for the above transactions for the period. Record the indirect materials used. Transaction 3 Note: Enter debits before credits. Record entry End of Period $ 47,000 20,300 34,400 $ 195,000 300,000 7,000 69,000 90,500 General Journal Clear entry Debit Credit View general journal
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