Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
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-ceder, 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 resultioned from the company inventory on December 2 for $5,100; on December 8 for $1,065, and on December 14 for $3,491. In each instance, two thirds (2/3) of these materials were for 157 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 per hour. The time tickets were dated December 3, December 9, and December 15. On each of these 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 2.111 hours, and the anticipated overhead costs are 1835,956 for the year. The machines were used by workers en projects 52 and 57 on December 3, and 15. Six machine hours were used for project 52 (2 each day) and 5 machine hours were used for project 27 (2.5 the first day and each of the other day). Both of these special orders were completed on December 15, producing 200 sprinkler heads for 357 and 100 sprinkler heads for $2. Additional job order activities turing this period included: Dec Purchased raw materials from Durbin Supply Company on account for 152,700 Issued 130,700 of direct materials from the company's overtory to jobs other than $2 and 37 and 11,000 or indirect materiale Dec 12 Paid Waterways factory salaries and wages for $64.700 Dec. 13 Pad the factory's water but of 58,900. Dec. 18 Transferred $50,100 of costs from other completed jobs to finished goods. Dec. 21 Paid the factory's electric bill of $12,100 for Waterways factory Dec 31 Made adjusting entries forth factory that included accrued property taxes of 512,100, prepaid insurance of $3,800, and accumulated depreciation of $15,000. 1 Set up the job cost sheets for Jab 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, 9.12.28.) Job No. 357 Job No. 52 Total Cost 5 Unit Cost

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions

Question

Is conflict always unhealthy? Why or why not? (Objective 4)

Answered: 1 week ago