Print by Charles Horn S_CCCO_ACC122001_2021101ACC122001 Accounting Principles II (Roxanne Phillips) SU20 / ACC122 M4 COMP PROBLEM # 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 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 $5,043; on December 3 for $1,050, and on December 14 for $3,447. In each instance, two-thirds (2/3) of these materials were for 357 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 $17.5 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 2,128 hours, and the anticipated overhead costs are $851,200 for the year. The machines were used by workers on projects K52 and 57 on December 3, 9, and 15. Six machine hours were used for project KS2 (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 200 sprinkler heads for 157 and 100 sprinkler heads for KS2. Additional job order activities during this period included: Dec. 1 Purchased raw materials from Durbin Supply Company on account for $53,600 Dec. 2 Issued $40,000 of direct materials from the company's inventory to jobs other than KS2 and 157 and $3,000 of indirect materials Dec 12 Pald Waterways' factory salaries and wages for $64,600. Dec. 13 Paid the factory's water bill of $9,000. Dec. 18 Transferred $49,900 of costs from other completed jobs to finished goods. Dec. 21 Paid the factory's electric bill of $12,200 for Waterways' factory Dec. 31 Made adjusting entries forth factory that included accrued property taxes of $11,900, prepaid insurance of $8,800, and accumulated depreciation of $15,800. Set up the job cost sheets for Job No. 357 and Job No. K52. Determine the total cost for each manufacturing special order for these jobs. (Round unit costs to 2 decimal places, e... 12.25.) Set up the job cost sheets for Job No. 357 and Job No. KS2. Determine the total cost for each manufacturing special order for these jobs. (Round unlit costs to 2 decimal Job No. 357 Job No. K52 Total Cost $ Unit Cost Journalize the activities from these job cost sheets in the general journal. Also, journalize 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 assign materials to jobs 357 & K52) 12/2 (To assign materials to jobs and overhead) (To assign labor to jobs 357 & K52) + (To assign overhead to jobs 3578 K52) MacBoo (To assign labor to jobs 357 & KS2) (To assign overhead to jobs 357 & K52) (To assign labor to jobs 357 & K52) . (To assign overhead to yobs 3578 KS2) (To record completion of jobs 357 & K52) Assuming that Manufacturing Overhead has a debit balance of $3,500, determine whether overhead has been under/over applied and ma indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit