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 Beginning of period Raw materials purchases Factory payroll Factory overhead (actual) View transaction list $ 45,000 9,400 58,000 Indirect materials used Indirect labor used Other overhead costs Journal entry worksheet A 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. B End of Period $ 35,000 18,100 33,100 $ 189,000 200,000 Record the entry for direct labor used. 11,000 46,000 100,000 4 >
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 Beginning of period Raw materials purchases Factory payroll Factory overhead (actual) View transaction list $ 45,000 9,400 58,000 Indirect materials used Indirect labor used Other overhead costs Journal entry worksheet A 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. B End of Period $ 35,000 18,100 33,100 $ 189,000 200,000 Record the entry for direct labor used. 11,000 46,000 100,000 4 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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 costs
Beginning of
period
$ 45,000
9,400
58,000
View transaction list
Journal entry worksheet
A
1. Direct labor used (recorded as factory wages payable).
2. Indirect labor used (recorded as factory wages payable).
Prepare journal entries for the above transactions for the period.
B
End of
Period
$ 35,000
18,100
33,100
$ 189,000
200,000
Record the entry for direct labor used.
K
11,000
46,000
100,000
>
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