Use the following information to answer questions. (Algo) [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 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 41,000 9,200 50,000 Indirect materials used Indirect labor used Other overhead costs End of Period $ 42,000 20,700 33,700 $ 176,000 150,000 8,000 34,500 117,500 Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3 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.
Use the following information to answer questions. (Algo) [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 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 41,000 9,200 50,000 Indirect materials used Indirect labor used Other overhead costs End of Period $ 42,000 20,700 33,700 $ 176,000 150,000 8,000 34,500 117,500 Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Use the following information to answer questions. (Algo)
[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
Cost incurred for the period
Raw materials purchases
Factory payroll
Factory overhead (actual)
$ 41,000
9,200
50,000
Indirect materials used
Indirect labor used
Other overhead costs
End of Period
$ 42,000
20,700
33,700
$ 176,000
150,000
8,000
34,500
117,500
Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb5c9e71a-2152-46c3-8ddc-78ecbd167355%2Fe9cb29aa-3df7-4c05-8bec-8af5702b87a6%2Fgxz6ytg_processed.png&w=3840&q=75)
Transcribed Image Text:Use the following information to answer questions. (Algo)
[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
Cost incurred for the period
Raw materials purchases
Factory payroll
Factory overhead (actual)
$ 41,000
9,200
50,000
Indirect materials used
Indirect labor used
Other overhead costs
End of Period
$ 42,000
20,700
33,700
$ 176,000
150,000
8,000
34,500
117,500
Exercise 15-14 (Algo) Recording direct and indirect labor LO P2, P3
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.
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