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) Beginning of Period Indirect materials used Indirect labor used other overhead costs View transaction list $ 43,000 10,200 63,000 A Journal entry worksheet B 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the period. End of Period $ 52,000 21,300 35,600 $ 210,000 345,000 15,000 80,000 120,000 all paid in Cash)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

2

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
other overhead costs
Beginning of
Period
View transaction list
A
Journal entry worksheet
$ 43,000
10,200
63,000
1. Incurred other actual overhead costs (all paid in Cash).
2. Applied overhead to work in process.
Prepare journal entries for the above transactions for the period.
B
Transaction
1
Note: Enter debits before credits.
End of Period
$ 52,000
21,300
35,600
$ 210,000
345,000
15,000
80,000
120,000
Record the entry for other actual overhead costs incurred (all paid in Cash).
General Journal
Debit
Credit
>
8
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 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 other overhead costs Beginning of Period View transaction list A Journal entry worksheet $ 43,000 10,200 63,000 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the period. B Transaction 1 Note: Enter debits before credits. End of Period $ 52,000 21,300 35,600 $ 210,000 345,000 15,000 80,000 120,000 Record the entry for other actual overhead costs incurred (all paid in Cash). General Journal Debit Credit > 8
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education