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Carla Vista Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,360 and
Carla Vista Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,360 and two jobs in process: Job No. 429 $1,920, and Job No. 430 $1,440. During May, a summary of source documents reveals the following. Job Number Materials Requisition Slips Labor Time Tickets 429 $2,400 $1,840 430 3,360 2,880 431 4,240 $10,000 7,300 $12,020 General use 800 1,120 $10,800 $13,140 Carla Vista Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during the month. General use 800 1.120 $10,800 $13,140 Carla Vista Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is complet during the month. (a) Your answer is correct. Prepare May 31 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. (List all debit entries before credit entries. Credit account titles are automatically Indented when amount is entered. Do not Indent manually.) Post the entries to Work in Process Inventory, and prove the agreement of the control account with the job cost sheets. (Post entries In the order of journal entries presented in the previous part.) Work in Process Inventory Job No. 430 431 to V Beginning Work in Process Direct Material Job Cost Sheets Labor SA EA 10/20 Direct Manu Ov
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