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Current Attempt in Progress Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,110 and two jobs in process: Job No. 429 $2,460, and Job No. 430 $1,650. During May, a summary of source documents reveals the following. Job Number 429 430 431 General use Materials Requisition Slips $2,730 3,900 4.830 $11,460 910 $12,370 Labor Time Tickets $2,300 3,100 7,800 $13,200 1,800 $15,000 Stine Company applies manufacturing overhead to jobs at an overhead rate of 63% of direct labor cost. Job No. 429 is completed during the month. (a) Prepare summary journal entries to record (1) the requisition slips, (2) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 429. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit No. Date May (1) 31 Work in Process Inventory 11,460 Manufacturing Overhead 910 Raw Materials Inventory 12,370 (2) 31 Work in Process Inventory 13,200 Manufacturing Overhead 1,800 Factory Labor 15,000 (3) 31 Work in Process Inventory Manufacturing Overhead (4) 31 Finished Goods Inventory Work in Process Inventory Save for Later Last saved 1 second ago. Attempts: 0 of 1 used Submit Answer Saved work will be auto-submitted on the due date. Bonita Industries had the following information at December 31: $ 70000 Finished goods inventory, January 1 Finished goods inventory, December 31 150000 If the cost of goods manufactured during the year amounted to $2200000 and annual sales were $2750000, the amount of gross profit for the year is $2120000. $630000. $470000. $550000. During 2019, Bramble Corp. expected Job no. 59 to cost $300000 of overhead, $440000 of materials, and $200000 in labor. Bramble applied overhead based on direct labor cost. Actual production required an overhead cost of $235000, $510000 in materials used, and $160000 in labor. All of the goods were completed. How much is the amount of over-or underapplied overhead? $5000 underapplied $65000 underapplied $65000 overapplied $5000 overapplied Current Attempt in Progress Oriole Company applies overhead on the basis of 200% of direct labor cost. Job No. 501 is charged with $320000 of direct materials costs and $380000 of manufacturing overhead. The total manufacturing costs for Job No. 501 is $700000 $890000. $1080000. O $1020000