Busch Manufacturing uses a job-order cost accounting system.

On April 1, the company has Work in Process Inventory of $12,000 with two jobs in process: Job No. 323, $7,000, and Job No. 324, $5,000.

During April, a summary of source documents reveals the following:

Materials Requisition SlipsLabour Time Tickets

Job No.323$1,200$ 2,000

3241,7003,700

3257,5003,000

3262,4001,800

Generaluse9001,200

Totals$13,700$11,700

Busch applies manufacturing overhead to jobs at an overhead rate of 50% of direct labour cost. Job No. 323 and Job No. 324 is the end of April. Job 324 is sold.

Required:

a)Prepare summary journal entries to record the raw materials requisitioned, factory labour used, the assignment of manufacturing overhead to jobs, and the completion of any jobs.(4 Marks)

b)Calculate the balance of the Work in Process Inventory account at April 30.(1 Mark)