The following information is available for ADT Company, which produces special-order security products and uses...
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Accounting
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 $ 32,000 $ 59,000 Work in process 9,400 20,700 Finished goods 65,000 34,400 Cost incurred for the period Raw materials purchases $ 183,000 Factory payroll 100,000 Factory overhead (actual) Indirect materials used 8,000 Indirect labor used 23,000 Other overhead costs 104,000.
- Incurred other actual overhead costs (all paid in Cash).
- Applied overhead to work in process.
Prepare journal entries for the above transactions for the period.
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