1 my kit TOP, suit, mardware, etc.). The polyethylene powder used in these kayaks costs $1.50 per kg, and the finishing kits cost $170 each. Each kayak will use two kinds of labour: 2 hours of more skilled type I labour from people who run the oven and trim the plastic, and 3 hours instructions Determine the total cost of the Huegel Hollow order and the cost of each individual kayak in the order. Identify costs as direct materials, direct labour, or manufacturing overhead. Waterways Continuing Problem Direct Materials Direct Labour Manufacturing Overhead WIP Total (This is a continuation of the Waterways Problem from Chapters 1 and 2.) WCP.3 Based on the compatibility and efficiency of its newly designed sprinkler systems, Waterways was successful in its bid to upgrade the irrigation systems for 10 soccer fields owned by the local municipality. Three of the local installation operators were assigned to work on the upgrades because these employees all were familiar with the new systems. At the end of the first month of work, the following information was pulled from the work in process inventory records for the jobs that had been started by the three groups. Job SOC-03 May 15 May 18 May 31 6,000 4,500 $10,500 $ 2,000 6,000 4,500 $12,500 $ 2.400 7,200 5,400 $38,000 During the month of June, the following transactions related to the three active upgrades took place: Direct Materials Direct Labour Manufacturing Overhead WIP Total Job SOC-01 May 10 May 15 May 31 $ 5,000 7,500 $ 7,000 6,000 $13,000 $ 8,400 7,200 $15,600 $12,500 $41,100 June | Requisitioned site supplies from raw materials inventory- Job SOC-01, $1,325; Job SOC-02, $860. June 1 Annual construction liability insurance premium paid for three site crews, $18,000. June 2 Monthly rental of small equipment for all three sites, $910. June 3 Requisitioned site supplies from raw materials inventory- Job SOC-03. $891. June 5 Requisitioned direct materials from raw materials inventory Job SOC-01, $2,100; Job SOC-02, $6,000; Job SOC-03, $500. June 15 Paid direct labour costs: Job SOC-01, $5,000; Job SOC-02 $8,000; Job SOC-03, $1,500, and employee benefits total- ling $2,900. June 16 Job SOC-O1 completed. $3,000 Job SOC-02 May 3 May 15 May 31 1,200 $4,200 $4,300 3.000 $7,300 $5,160 3,600 $8,760 $20,260 Waterways Continuing Problem 119 June 21 Requisitioned direct materials from raw materials inventory-Job SOC-03, $3,000. June 21 Requisitioned site supplies from raw materials inventory- Job SOC-03, $756. June 23 Job SOC-03 completed. June 30 Monthly depreciation on large equipment for three sites, $6,000. June 30 Paid direct labour costs: Job SOC-02, $3,200; Job SOC-03, $7,200; and employee benefits of $2,080. June 30 Paid salary for site supervisors, delivery driver, and site cleaners, $8,000. June 30 Paid rent for on-site portable toilets and garbage containers for the month, $2,100. in a. Using just the information provided from the work in process balances for May 31, calculate the predetermined overhead rate that Waterways has been using for its installations. Waterways writes off any balance in the manufacturing overhead account to Cost of Goods Sold at the end of every month. Assum- ing that all the transactions listed above are related to the three upgrades, calculate the balance in the manufacturing overhead ac- count at the end of June, and indicate if it is over- or under-applied. c. Prepare summary journal entries to record all the transactions for the month of June. Dates and explanations are not required. d. Determine the balance in the Work in Process account at the end of the month, and reconcile this balance to the jobs not completed at the end of the month. e. Waterways received a contract price of $75.000 for each upgrade completed. Determine the gross profit on the completed jobs during the month of June. 1 my kit TOP, suit, mardware, etc.). The polyethylene powder used in these kayaks costs $1.50 per kg, and the finishing kits cost $170 each. Each kayak will use two kinds of labour: 2 hours of more skilled type I labour from people who run the oven and trim the plastic, and 3 hours instructions Determine the total cost of the Huegel Hollow order and the cost of each individual kayak in the order. Identify costs as direct materials, direct labour, or manufacturing overhead. Waterways Continuing Problem Direct Materials Direct Labour Manufacturing Overhead WIP Total (This is a continuation of the Waterways Problem from Chapters 1 and 2.) WCP.3 Based on the compatibility and efficiency of its newly designed sprinkler systems, Waterways was successful in its bid to upgrade the irrigation systems for 10 soccer fields owned by the local municipality. Three of the local installation operators were assigned to work on the upgrades because these employees all were familiar with the new systems. At the end of the first month of work, the following information was pulled from the work in process inventory records for the jobs that had been started by the three groups. Job SOC-03 May 15 May 18 May 31 6,000 4,500 $10,500 $ 2,000 6,000 4,500 $12,500 $ 2.400 7,200 5,400 $38,000 During the month of June, the following transactions related to the three active upgrades took place: Direct Materials Direct Labour Manufacturing Overhead WIP Total Job SOC-01 May 10 May 15 May 31 $ 5,000 7,500 $ 7,000 6,000 $13,000 $ 8,400 7,200 $15,600 $12,500 $41,100 June | Requisitioned site supplies from raw materials inventory- Job SOC-01, $1,325; Job SOC-02, $860. June 1 Annual construction liability insurance premium paid for three site crews, $18,000. June 2 Monthly rental of small equipment for all three sites, $910. June 3 Requisitioned site supplies from raw materials inventory- Job SOC-03. $891. June 5 Requisitioned direct materials from raw materials inventory Job SOC-01, $2,100; Job SOC-02, $6,000; Job SOC-03, $500. June 15 Paid direct labour costs: Job SOC-01, $5,000; Job SOC-02 $8,000; Job SOC-03, $1,500, and employee benefits total- ling $2,900. June 16 Job SOC-O1 completed. $3,000 Job SOC-02 May 3 May 15 May 31 1,200 $4,200 $4,300 3.000 $7,300 $5,160 3,600 $8,760 $20,260 1 my kit TOP, suit, mardware, etc.). The polyethylene powder used in these kayaks costs $1.50 per kg, and the finishing kits cost $170 each. Each kayak will use two kinds of labour: 2 hours of more skilled type I labour from people who run the oven and trim the plastic, and 3 hours instructions Determine the total cost of the Huegel Hollow order and the cost of each individual kayak in the order. Identify costs as direct materials, direct labour, or manufacturing overhead. Waterways Continuing Problem Direct Materials Direct Labour Manufacturing Overhead WIP Total (This is a continuation of the Waterways Problem from Chapters 1 and 2.) WCP.3 Based on the compatibility and efficiency of its newly designed sprinkler systems, Waterways was successful in its bid to upgrade the irrigation systems for 10 soccer fields owned by the local municipality. Three of the local installation operators were assigned to work on the upgrades because these employees all were familiar with the new systems. At the end of the first month of work, the following information was pulled from the work in process inventory records for the jobs that had been started by the three groups. Job SOC-03 May 15 May 18 May 31 6,000 4,500 $10,500 $ 2,000 6,000 4,500 $12,500 $ 2.400 7,200 5,400 $38,000 During the month of June, the following transactions related to the three active upgrades took place: Direct Materials Direct Labour Manufacturing Overhead WIP Total Job SOC-01 May 10 May 15 May 31 $ 5,000 7,500 $ 7,000 6,000 $13,000 $ 8,400 7,200 $15,600 $12,500 $41,100 June | Requisitioned site supplies from raw materials inventory- Job SOC-01, $1,325; Job SOC-02, $860. June 1 Annual construction liability insurance premium paid for three site crews, $18,000. June 2 Monthly rental of small equipment for all three sites, $910. June 3 Requisitioned site supplies from raw materials inventory- Job SOC-03. $891. June 5 Requisitioned direct materials from raw materials inventory Job SOC-01, $2,100; Job SOC-02, $6,000; Job SOC-03, $500. June 15 Paid direct labour costs: Job SOC-01, $5,000; Job SOC-02 $8,000; Job SOC-03, $1,500, and employee benefits total- ling $2,900. June 16 Job SOC-O1 completed. $3,000 Job SOC-02 May 3 May 15 May 31 1,200 $4,200 $4,300 3.000 $7,300 $5,160 3,600 $8,760 $20,260