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 Beginning of period End of Period Raw materials $ 32,000 $ 47,000 Work in process 9,300 19,700 Finished goods 55,000 34,200 Cost incurred for the period Raw materials purchases $ 174,000 Factory payroll 200,000 Factory overhead (actual) Indirect materials used 11,000 Indirect labor used 46,000 Other overhead costs 117,500
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 Beginning of period End of Period Raw materials $ 32,000 $ 47,000 Work in process 9,300 19,700 Finished goods 55,000 34,200 Cost incurred for the period Raw materials purchases $ 174,000 Factory payroll 200,000 Factory overhead (actual) Indirect materials used 11,000 Indirect labor used 46,000 Other overhead costs 117,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is available for ADT Company, which produces special-order security products and uses a
| Inventories | Beginning of period | End of Period |
|---|---|---|
| Raw materials | $ 32,000 | $ 47,000 |
| Work in process | 9,300 | 19,700 |
| Finished goods | 55,000 | 34,200 |
| Cost incurred for the period | |
| Raw materials purchases | $ 174,000 |
|---|---|
| Factory payroll | 200,000 |
| Factory overhead (actual) | |
| Indirect materials used | 11,000 |
| Indirect labor used | 46,000 |
| Other overhead costs | 117,500 |
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