(c) Calculate the ending balance in the WIP Inventory account on June 30. Please indicate debit or credit with your answer.

Redstone Manufacturing Co. uses a job cost accounting system. On June 1, the company has $0 in its Work in Process (WIP) Inventory account. Redstone works on four Jobs in June (850-853). Jobs 850 and 851 completed on June 29. During June, a summary of production data shows the following (make up your own data): For Direct Materials Cost Direct Labor Cost Factory Overhead Cost Job 850 $???? $???? $???? Job 851 ???? ???? ???? Job 852 ???? ???? Job 853 ???? ???? ???? ???? Redstone applies estimated factory overhead (FO) cost to jobs using a single predetermined factory overhead rate based on direct labor cost (make up your own FO rate). Instructions: a) Make up your own data in the format above. b) Complete the following four journal entries (1-4). Please use the following accounts for your journal entries: WIP Inventory, Raw Materials Inventory, Wages Payable, Factory Overhead, and Finished Goods Inventory. 1) Record Direct Materials cost for all jobs. 1 2) Record Direct Labor cost for all jobs. 3) Record Factory Overhead Cost applied to all jobs. 4) Record the completion of Jobs 850 and 851