Exercise 14-2 a-c (Part Level Submission) F $15,300 and Work in Process Inventory of $3,940 and two jobs in process: Job No. 429 $2,160, and To pany s JOD order Cst Sy rle compary fellein Raw Materials Inventory mmar ing Materials Requisition Slips Labor Time Job Number Tickets $2,770 $2,070 429 430 3,910 3.290 $11.600 431 4.920 8.150 $13,510 General use 940 1,460 $14.970 $12,540 Concord Company applies manufacturing overhead to jobs at an overhead rate of 60 % of direct labor cost. Job No. 429 is completed during the month (a & b) Your answer is partially correct. Try again. (a) Record the May 1 inventory balances and the factory labor incurred. (b) Record (1) material usage from requisition slips, (2) factory labor usage from time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion Job No. 429. (Enter negative amounts using either a negative sign preceding the number e.g. -45 r parentheses e.g. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead Work in Process Inventory Finished Goods Inventory 11600 1540 940 (a) Balances 14970 1460 13510 (b) Incurred factory labor 9322 9322 (b) Direct materials x 8428 8428 (b) Indirect materials (b) Direct labor (b) Indirect labor (b) Assign Man ufacturing overhead (b) Completion of job No. 429 27510 11722 42860 8428 Balance