Waterways Continuing Problem 15 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 2016. Raw materials were requisitioned from the company's inventory on December 2 for $5,061; on December 8 for $1,059; and on December 14 for $3,459. 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 $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 357 and the rest for K52. The predetermined overhead rate is based on machine hours. The expected machine hour use for the year is 2,112 hours, and the anticipated overhead costs are $840,576 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 J57 (2.5 the first day and 3 each of the other days). Both of these special orders were completed on December 15, producing 237 sprinkler heads for 257 and 142 sprinkler heads for K52. Additional job order activities during this period of time included: Dec. 1 Purchased raw materials from Durbin Supply Company on account for $53,200. Dec. 2 Issued $40,000 of direct materials from the company's inventory to jobs other than K52 and 357 and $3,000 of indirect materials. Dec. 12 Paid Waterways' factory salaries and wages in the amount of $65,000. Dec. 13 Paid the factory's water bill of $9,000. Dec. 18 Transferred $50,000 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 for the factory that included accrued property taxes of $12,000, prepaid insurance of $8,800, and accumulated depreciation on equipment of $16,000. List Of Accounts Waterways Continuing Problem 15 Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Cash Cost of Completed Service Contracts Cost of Goods Sold Depreciation Expense Employer Fringe Benefits Payable Employer Payroll Taxes Payable Factory Labor Factory Wages Payable Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Tax Payable Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Work in Process Inventory Journalize the activities from these job cost sheets in the general journal. Also journalize the other costs that occurred during this period of time. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answer to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Raw Materials Inventory 32000 Accounts Payable 53200 T 12/2 Work in Process Inventory 3374 Work in Process Inventory 1687 (To assign materials to jobs 357 & K52) 12/2 Work in Process Inventory Manufacturing Overhead 7 Raw Materials Inventory 43000 (To assign materials to jobs and overhead) 12/3 Work in Process Inventory 66 Factory Wages Payable (To assign labor to jobs 357 & K52) Manufacturing Overhead 995 Factory Wages Payable 1791 (10 assign Overnedd to JODS J5/ & K52) 12/8 Work in Process Inventory 706 Raw Materials Inventory 1059 12/9 + Work in Process Inventory 66 Factory Wages Payable (To assign labor to jobs 357 & K52) 12/94 Manufacturing Overhead 1194 Factory Wages Payable 1990 (To assign overhead to jobs 357 & K52) /14 Work in Process Inventory 2306 Raw Materials Inventory 3459 12/15 Manufacturing Overhead 1194 Factory Wages Payable 1990 12/12 Manufacturing Overhead 65000 Cash 65000 T 12/13 Manufacturing Overhead 9000 Cash 9000 (To assign labor to jobs 357 & K52) 12/18 Finished Goods Inventory 15647 Manufacturing Overhead 2388 (To assign overhead to jobs 357 & K52) 12/18 Finished Goods Inventory 50000 Work in Process Inventory 50000 (To record completion of jobs 357 & K52) | 12/21 Manufacturing Overhead Cash 12/31 Manufacturing Overhead Property Tax Payable 12/31 12/31 Prepaid Insurance JLPX accu X