Exercise 2-2 (Video) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,610 and two jobs in process: Job No. 429 $2,140, and Job No. 430 $1,470. During May, a summary of source documents reveals the following. Job Number 429 430 Materials Requisition Slips $2,940 4,090 4,920 $11,950 Y General use 930 431 $12,880 Labor Time Tickets $2,100 3,600 8,100 $13,800 1,590 $15,390 " Stine Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during the month. Prepare 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. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation (1) May 31 Debit Credit (2) 31 (3) 31 12 # 80 P $ 000 14 75 A 76 & 44 17. TO 1 FIL 12