Answered step by step
Verified Expert Solution
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 J57 and Job K52 involve
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, Spriniler heads to meet the specifications of the project. Using, 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 $5.100; on December 8 for $1.065; and on December 14 for $3,492. In each inctance, two-thirds (2/3) of these materials were for J57 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 pald $17 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 lobs, two-thirds (2/3 ) for 357 and the rest for K 52 . The predetermined overhead rate is based on machine hours. The expected machine hour use for the year is 2,111 hoors, and the anticipated overhead costs are 5835.956 for the year. The machines were used by workers on projects K52 and J 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 ( 12.5 the first day and 3 each of the other days). Both of these special orders were completed on December 15 , producing 200 sprinkier heads for t57 and 100 sprinkler heads for KS2. Dec. 1 Purchased raw materials from Durbin Supply Company on account for $52,700. Dec. 2 Issued $39,700 of direct materials from the company's inventory to jobs other than K52 and 157 and $3,000 of indirect materials. Dec. 12 Paid Waterways' factory salaries and wages for $64,700. Dec. 13 Paid the factory's water bill of $8,900. 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 $12,100, prepaid insurance of $8.800, and accumulated depreciation of $15,800. Journalize the activities froen these job costshects in the general journal. Also, journalize the other costs that octurred during this period. (Credt account tities are outomoticalfy indented when amount is entered Do not indent nancualk Record journal entries in the arder preiented in the orobicm. Round answers to 0 decimal places, eg. 5.275.)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5caf0f3b7_446669e5caea0846.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5cafa1f82_447669e5caf42449.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5cb04d049_447669e5cafdfa6e.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5cb0e901a_448669e5cb08a4e3.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5cb18dd7d_449669e5cb126481.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669e5cb26a1c6_450669e5cb2051a1.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started