Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer the question. Thank you Waterweys has two major public-park projects to provide with comprehensive irrigation in one of its servicelocations this month Job

Please answer the question. Thank you image text in transcribed
image text in transcribed
Waterweys has two major public-park projects to provide with comprehensive irrigation in one of its servicelocations this month Job 157 and Job K52 involve 15 acres of landscaped termain, which will requlre special-order, sprinker heads to meet the specifications of the project Usingajob costsystem to produce these parts, the following events occurred during December. Raw materials Were requisitioned from the company's inventory on December 2 for $5,019; on December 8 for $1,062; and on December 14 for $3,471. In eachinstance, two-thirds (2/3) of these materlals were for J57 and the rest for K52. Sb 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 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 157 and the rest for K52. The predetermined overhead rate is based on machine hours. The expected machine hour use for the year is 2,121 hours, and the anticipated overhead costs are $839,916 for the year. The machines were used by workers on projects K52 and J57 on December 3,9. and 15. Sbxmachinehours were used for project KS2 (2 each day), and 8.5 machine hours were used for project J57 (25 the first day and 3 each of the other days). Both of these special orders were completed on December 15, producing 200 sprinkler heads for 157 and 100 sprinlder heads for K52. Additionaljob order acthities during this period included: Dec 1 Purchased raw materials from Durbin Supply Company on account for $532200. Dec- 2 Issued $40,200 of direct materials from the company's inventory to jobs other than K52 and 357 and $3,000 of indirect materials. Dec. 12. PaldWaterwar' factory salarles and wages for $64,800 Dec 13 Pald the factory 5 water bill of $8,900. Dec 18 Transferred $49,500 of costs from other completed jobs to finlshed goods. Dec 21 Paid the factory's electric bill of $12,000 for Waterway' factory. Dec 31 Made adjustingentries forth factory that included accued property tapes of $12,100, prepald insurance of $2,700, and accumulated depredation of $16,000 Set up the job cost sheets for Job No. J57 and Job Na. K52. Determine the total cost for each manufacturing special order for thesejobs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Society Research On Audit Practice And Regulations

Authors: Wally Smieliauskas, Minlei Ye, Ping Zhang

1st Edition

1138314129, 978-1138314122

More Books

Students also viewed these Accounting questions

Question

Summarize the economic impact of safety.

Answered: 1 week ago

Question

Summarize the prevalence of unions.

Answered: 1 week ago