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 Beginning of period Raw materials $ 30,000 End of Period $ 51,000 Work in process 9,400 Finished goods 70,000 20,500 33,200 Cost incurred for the period Raw materials purchases $ 180,000 Factory payroll 100,000 Factory overhead (actual) Indirect materials used 17,000 Indirect labor used 23,000 Other overhead costs 101,000 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. 2. Compute the cost of direct labor used for the period. 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Required information Required 134 and 5 Required 2 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect i 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufac under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and ap Beginning Raw Materials Inventory Beginning Beginning Wor Required information goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Complete this question by entering your answers in the tabs below. Required 1 3 4 and 5 Required 2 Compute the cost of direct labor used for the period. The cost of direct labor for the period Cost of direct labor used 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 Raw materials $ 30,000 End of Period $ 51,000 Work in process 9,400 Finished goods 70,000 20,500 33,200 Cost incurred for the period Raw materials purchases $ 180,000 Factory payroll 100,000 Factory overhead (actual) Indirect materials used 17,000 Indirect labor used 23,000 Other overhead costs 101,000 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. 2. Compute the cost of direct labor used for the period. 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Required information Required 134 and 5 Required 2 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect i 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufac under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and ap Beginning Raw Materials Inventory Beginning Beginning Wor Required information goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Complete this question by entering your answers in the tabs below. Required 1 3 4 and 5 Required 2 Compute the cost of direct labor used for the period. The cost of direct labor for the period Cost of direct labor used
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