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
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
Chapter1: Financial Statements And Business Decisions
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