Waterways has two major public-park projects to provide with comprehensive Irrigation in one of its service...
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Waterways has two major public-park projects to provide with comprehensive Irrigation in one of its service locations this month. Job J57 and Job K52 involve 15 acres of landscaped terrain which will require special-order sprinkler heads to meet the specifications of the project. Using a job cost system to produce these parts, the following events occurred during December Raw materials were requisitioned from the company's Inventory on December 2 for $4,866 on December 8 for $1,014; and on December 14 for $3,318. In each instance, two-thirds (2/3) of these materials were for 157 and the rest for K52. Six time tickets were turned in for these two projects for a total amount of 18 hours of work. All the workers were paid $16.50 per hour. The time tickets were dated December 3. December 9, and December 15. On each of those days. 6 labor hours were spent on these jobs, two-thirds (2/3) for J57 and the rest for K52. The predetermined overhead rate is based on machine hours. The estimated machine hour use for the year is 2,026 hours, and the estimated overhead costs are $773.932 for the year. The machines were used by workers on projects K52 and J57 on December 3.9, and 15. Six machine hours were used for project K52 (2 each day), and 8.5 machine hours were used for project 157 (2.5 the first day and 3 each of the other days). Both of these special orders were completed on December 15, producing 230 sprinkler heads for J57 and 138 sprinkler heads for K52. Additional job order activities during this period included: Dec 1 Dec. 2 Purchased raw materials from Durbin Supply Company on account for $51,072 Issued $38,400 of direct materials from the company's inventory to jobs other than K52 and J57 and $2,880 of indirect materials. Paid Waterways' factory salaries and wages for $62.400. Dec 12 Dec 13 Paid the factory's water bill of $8.640. Dec 18 Dec 21 Dec (a) Transferred $48,000 of costs from other completed jobs to finished goods. Paid the factory's electric bill of $11.520 for Waterways factory. Made adjusting entries for the factory that included accrued property taxes of $11.520. prepaid insurance of $8.448, and accumulated depreciation of $15.360. Your answer is incorrect! Set up the job cost sheets for Job No. 157 and Job No. K52 Determine the total cost for each manufacturing special order for these jobs. (Round unit costs to 2 decimal places, eg 12.25) Job No. 157 Job No. K52 Total Cost 9769 5741 Unit Cost eTextbook and Media List of Accounts Save for Later 42.43 41.59 Attempts: unlimited Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Waterways has two major public-park projects to provide with comprehensive Irrigation in one of its service locations this month. Job J57 and Job K52 involve 15 acres of landscaped terrain which will require special-order sprinkler heads to meet the specifications of the project. Using a job cost system to produce these parts, the following events occurred during December Raw materials were requisitioned from the company's Inventory on December 2 for $4,866 on December 8 for $1,014; and on December 14 for $3,318. In each instance, two-thirds (2/3) of these materials were for 157 and the rest for K52. Six time tickets were turned in for these two projects for a total amount of 18 hours of work. All the workers were paid $16.50 per hour. The time tickets were dated December 3. December 9, and December 15. On each of those days. 6 labor hours were spent on these jobs, two-thirds (2/3) for J57 and the rest for K52. The predetermined overhead rate is based on machine hours. The estimated machine hour use for the year is 2,026 hours, and the estimated overhead costs are $773.932 for the year. The machines were used by workers on projects K52 and J57 on December 3.9, and 15. Six machine hours were used for project K52 (2 each day), and 8.5 machine hours were used for project 157 (2.5 the first day and 3 each of the other days). Both of these special orders were completed on December 15, producing 230 sprinkler heads for J57 and 138 sprinkler heads for K52. Additional job order activities during this period included: Dec 1 Dec. 2 Purchased raw materials from Durbin Supply Company on account for $51,072 Issued $38,400 of direct materials from the company's inventory to jobs other than K52 and J57 and $2,880 of indirect materials. Paid Waterways' factory salaries and wages for $62.400. Dec 12 Dec 13 Paid the factory's water bill of $8.640. Dec 18 Dec 21 Dec (a) Transferred $48,000 of costs from other completed jobs to finished goods. Paid the factory's electric bill of $11.520 for Waterways factory. Made adjusting entries for the factory that included accrued property taxes of $11.520. prepaid insurance of $8.448, and accumulated depreciation of $15.360. Your answer is incorrect! Set up the job cost sheets for Job No. 157 and Job No. K52 Determine the total cost for each manufacturing special order for these jobs. (Round unit costs to 2 decimal places, eg 12.25) Job No. 157 Job No. K52 Total Cost 9769 5741 Unit Cost eTextbook and Media List of Accounts Save for Later 42.43 41.59 Attempts: unlimited Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above.
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Answer rating: 100% (QA)
ANSWER Lets set up the job cost sheets for Job No 157 and Job No K52 Job No 157 Date Item Amount Dec ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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