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 Cost incurred for the period < Raw materials purchases Factory payroll Factory overhead (actual) Indirect materials used Indirect labor used Other overhead costs. View transaction list Journal entry worksheet Beginning of period $ 40,000 9,400 56,000 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. A B C Note: Enter debits before credits. Transaction 1 End of Period $ 50,000 20,600 34,000 $ 183,000 150,000 4 11,000 34,500 91,000 Record the raw material purchases for cash. General Journal Debit Credit

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
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.
View transaction list
Beginning of
period
$ 40,000
9,400
56,000
Journal entry worksheet
A
Prepare journal entries for the above transactions for the period.
B
C
Transaction
1
Note: Enter debits before credits.
End of
Period
$ 50,000
20,600
34,000
$ 183,000
150,000
11,000
34,500
91,000
Record the raw material purchases for cash.
General Journal
Debit
Credit
Transcribed Image Text: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 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. View transaction list Beginning of period $ 40,000 9,400 56,000 Journal entry worksheet A Prepare journal entries for the above transactions for the period. B C Transaction 1 Note: Enter debits before credits. End of Period $ 50,000 20,600 34,000 $ 183,000 150,000 11,000 34,500 91,000 Record the raw material purchases for cash. General Journal Debit Credit
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