NEAU Question 2 Waterways has two major public park projects to provide with comprehensive irrigation in one of its service locations this month Job 357 and Job S2 involve 15 acres of landscaded 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 $5,094, on December 8 for $1,056, and on December 14 for $3.468. In each instance, two-thirds (2/3) of these materials were for 357 and the rest for KS2 Six time tickets were turned in for these two projects for a total amount of 18 hours of work. All the workers were paid $15.5 per hour. The time tickets were deted December ), December 9, and December 15. On each of those days, 6 labor hours were spent on these jobs, two-thirds (2/3) for 157 and the rest for K52 The predetermined overhead rate is based on machine hours. The expected machine hour use for the year is 2.115 hours, and the anticipated overhead costs are $154.460 for the year. The machines were used by workers on project KS2 and 357 on December 3, 9 and 15. Six machine hours were used for project KS2 (2 each day, and machine hours were used for project 27 (7.5 the first day and 3 each of the other days). Both of these special orders were completed on December 15, producing 200 sorker beads for 357 and 100 sprinkler hadifor $2 Dec 1 Purchased raw majerials from Durbin Supply Company on account for $53,400. Dec 2 Issued 540,300 of direct materials from the company's inventory to jobs other than KS2 and 357 and $3,100 of indirect materials, Dec 12 Pald Waterways' factory salaries and wages for $65,500. Dec 13 Paid the factory's water bill of $9,100. Dec. 18 Transferred $50,200 of costs from other completed jobs to finished goods. Dec. 21 Paid the factory's electric bill of $12,000 for Waterways' factory, Dec. 31 Made adjusting entries forth factory that included accrued property taxes of $12,100, prepaid Insurance of 58,700, and accumulated depreciation of $16,000 CALCULATOR PRIE Set up the job cost sheets for Job No. 357 and Job No. 52. Determine the total cost for each manufacturing special order for these fobs. (Round unit costs to 2 deci Job No. 357 Job No. KS2 Total Cost $ Unit Cost SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Journalize the activities from these you cost sheets in the general journal. Also, yournalize the other costs that occurred during this period. (Credit account titles are autom amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit (to in materials to jobs 57 KS2) 12/2 (To on matals to you and overhead To son loboto 17 8 652) > (To assign overhead to jobs 357 & K52) (To assign labor to jobs 357 & K52) I (To assign overhead to jobs 357 & K52) (To assign labor to jobs 357 & K52) s (To assign labor to jobs 357 & K52) (To assign overhead to jobs 357 & K52) (To record completion of jobs 357 & K52) >
