Required information
Use the following information to answer questions. (Algo)
Skip to question
[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 $ 29,000 $ 41,000
Work in process 9,900 19,000
Finished goods 55,000 34,000
Cost incurred for the period
Raw materials purchases $ 173,000
Factory payroll 150,000
Factory overhead (actual)
Indirect materials used 9,000
Indirect labor used 34,500
Other overhead costs 111,500
Exercise 15-13 (Algo) Recording materials; direct and indirect LO P1, P3
Raw materials purchases for cash.
Direct materials used.
Indirect materials used.
Prepare journal entries for the above transactions for the period.