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here is the problem. for number 4, I'm supposed to find the values of the finished goods inventory, and the work in process inventory. how

here is the problem. for number 4, I'm supposed to find the values of the finished goods inventory, and the work in process inventory. how do i calculate these values?

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Exercise 16-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,400 and two jobs in process: Job No. 429 $2,100, and Job No. 430 $1,300. During May, a summary of source documents reveals the following. Materials Labor Time Job Number Requisition Slips Tickets 429 $2,600 $2,000 430 3,600 3,100 431 4,500 $10,700 7,700 $12,800 General use 900 1,300 $11,600 $14,100 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. Your answer is partially correct. Try again. 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. Round answers to 0 decimal places, e.g. 5,275.)

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