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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
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 $3,910 and two jobs in process: Job reveals the following. Stine Company applies manufacturing overhead to jobs at an overhead rate of 69% of direct labor cost. Job No. 429 is completed during the month. Your answer is correct. amount is entered. Do not indent manually.) No. Date Account Titles and Explanation (1) May 31 Work in Process Inventory Manufacturing Overhead Raw Materials Inventory (2) 31 Work in Process Inventory Manufacturing Overhead Factory Labor (3) 31 Work in Process Inventory Manufacturing Overhead (4) 31 Finished Goods Inventory Work in Process Inventory Debit Credit 11,510 950 12,460 13,000 1,370 8.970 8.909 8.909 (b) 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.)
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