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 $ 26,000 9,700 69,000 Cost incurred for the period View transaction list Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs Journal entry worksheet A B C End of Period $ 58,000 19,600 34,300 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. $ 171,000 250,000 7,000 57,500 100,000 Record the raw material purchases for cash. >
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 $ 26,000 9,700 69,000 Cost incurred for the period View transaction list Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs Journal entry worksheet A B C End of Period $ 58,000 19,600 34,300 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. $ 171,000 250,000 7,000 57,500 100,000 Record the raw material purchases for cash. >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please see picture below.
![### Required Information
**[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**
| | Beginning of period | End of Period |
|------------------------|-----------------------|---------------|
| Raw materials | $26,000 | $58,000 |
| Work in process | $9,700 | $19,600 |
| Finished goods | $69,000 | $34,300 |
**Cost Incurred for the Period**
| | Amount |
|----------------------------|-----------|
| Raw materials purchases | $171,000 |
| Factory payroll | $250,000 |
| Factory overhead (actual) | |
| - Indirect materials used | $7,000 |
| - Indirect labor used | $57,500 |
| - Other overhead costs | $100,000 |
1. **Raw materials purchases for cash**.
2. **Direct materials used**.
3. **Indirect materials used**.
Prepare journal entries for the above transactions for the period.
---
### Journal Entry Worksheet
1. **Record the raw material purchases for cash.**
Please enter your debits and credits as per the journal entry requirements.
**Note:** Enter debits before credits.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6f96dd47-ce3e-4fb6-9f29-e38e62f29b56%2Fd417d4a3-a89d-487d-b935-056cf2401b6f%2Fhoklg_processed.png&w=3840&q=75)
Transcribed Image Text:### Required Information
**[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**
| | Beginning of period | End of Period |
|------------------------|-----------------------|---------------|
| Raw materials | $26,000 | $58,000 |
| Work in process | $9,700 | $19,600 |
| Finished goods | $69,000 | $34,300 |
**Cost Incurred for the Period**
| | Amount |
|----------------------------|-----------|
| Raw materials purchases | $171,000 |
| Factory payroll | $250,000 |
| Factory overhead (actual) | |
| - Indirect materials used | $7,000 |
| - Indirect labor used | $57,500 |
| - Other overhead costs | $100,000 |
1. **Raw materials purchases for cash**.
2. **Direct materials used**.
3. **Indirect materials used**.
Prepare journal entries for the above transactions for the period.
---
### Journal Entry Worksheet
1. **Record the raw material purchases for cash.**
Please enter your debits and credits as per the journal entry requirements.
**Note:** Enter debits before credits.
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