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[The following information applies to the questions displayed below.]

[The following information applies to the questions displayed below.]

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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[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 $ 48,000 9,000 65,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs End of Period $ 43,000 20,700 34,900 $ 179,000 250,000 12,000 57,500 114,500
Transcribed Image Text:[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 $ 48,000 9,000 65,000 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs End of Period $ 43,000 20,700 34,900 $ 179,000 250,000 12,000 57,500 114,500
1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the period. View transaction list Journal entry worksheet A B Record the entry for other actual overhead costs incurred (all paid in Cash). Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal >
Transcribed Image Text:1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the period. View transaction list Journal entry worksheet A B Record the entry for other actual overhead costs incurred (all paid in Cash). Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal >
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