Waterways has two major public park projects to provide with comprehensive irrigation in one of its service locations this month Job 357 and Job KS2 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 $5.022: on December 8 for $1.062 and on December 14 for $3.438. In each instance, two thirds (2/3) of these materials were for 57 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 $18 per hour. The time tickets were dated December 3. December and December 15. On each of those days, 6 labor hours were spent on these jobs, two-thirds (2/3) for 57 and the rest for K52 The predetermined overhead rate is based on machine hours. The expected machine hour use for the year is 2.099 hours, and the anticipated overhead costs are $347.996 for the year. The machines were used by workers on projects K52 and 57 on December 3, 9 and 15. Sex machine hours were used for project 52 (2 each dayland 8.5 machine hours were used for project 57(25 the first day and 3 each of the other days). Both of these special orders were completed on December 15, producine 200 sprinklerheads for 357 and 100 sprinklerheads for S2 Additional job order activities during this period included: Dec 1 Purchased raw materials from Oriole Soly Company on account for $53.700, Dec Issued $40.200 of direct materials from the company's inventory to jobs other than KS2 and 357 and $3.000 of 2 indirect materials Dec 12 Pald Waterways' factory salaries and wages for $64.700. Paid the factory's water bit of $8.900 Dec 18 Transferred 549.700 of costs from other completed jobs to finished goods Dec 21 Paid the factory's electric bit of $11.00 for Waterways' factory Dec 31 Made adjusting entries forth factory that included accrued property taxes of $11.300, prepaid insurance of $8.900 and accumulated depreciation of $15.800 De Set up the job cost sheets for Job No. 357 and Job No. 652. Determine the total cost for each manufacturing special order for these jobs. (Round unit costs to 2 decimal places, e... 12.25.) Job No. 57 Job No, K52 $ Total Cost $ Unit Cost $ $ e Textbook and Media List of Accounts 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 automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 0 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 57 & K52) (To assign overhead to jobs J57 & K52) (To assign labor to jobs J57 & K52) (To assign overhead to jobs J57 & K52) (To assign labor to jobs J57 & K52) (To assign overhead to jobs J57 & K52) (To assign labor to jobs JS7 & K52) (To assign overhead to jobs JS7 & K52) (To record completion of jobs JS7 & K52) e Textbook and Media List of Accounts Assuming that Manufacturing Overhead has a debit balance of $3,600, determine whether overhead has been under/over applied and make the adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation e Textbook and Media List of Accounts
