The following information is available for ADT Company, which produces special-order security products and uses a...
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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 9,400 56,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. End of Period $ 34,000 18,500 33,300 $ 170,000 100,000 11,000 23,000 112,500 Prepare journal entries for the above transactions for the period. 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 9,400 56,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. End of Period $ 34,000 18,500 33,300 $ 170,000 100,000 11,000 23,000 112,500 Prepare journal entries for the above transactions for the period.
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1 Raw materials purchases for cash Deb Raw Materials Inventory 170000 Credit Cash 170000 ... View the full answer
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