Ivanhoe Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3.940 and twojobs in process: Job No. 429 $2.160 and Job No 430 $1.780, During May a summary of source documents reveals the following Materials Requisition Slips $2.770 Job Number 429 430 431 General use 3910 Labor Time Tickets $2.100 3.300 8.200 $13,600 1.480 $15.060 4,920 511600 900 $12.540 Ivanhoe Company alles manuscrit e tjobs at overhead rate of of direct labor cost Job No 4296 completed during the month () Preoare summaries to records des montatti the corner countries are waitindented when No Date Account Tities and Explanation M Debit Credit Ivanhoe Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3.940 and two jobs in process: Job No. 429 52.160. and Job No. 430 $1,780. During May, a summary of source documents reveals the following Job Number 429 Materials Requisition Slips $2.770 3910 4.920 311600 9:40 $12540 Labor Time Tickets $2100 3.300 B.200 $13.600 1460 515,060 431 General use Ivanhoe Company applies manufacturing overhead to jobs at an overhead rate of 69% of direct labor costjo Na 229.completed during the month. ta Prepare summary journal entries to record (1) the requisitionslos, 12 the time tid. 35 the assignment of manufacturing overticad to jobs and 41 the completion of Job No. 429. Credit account titles are automatically indented when amount is stored. Do nol indent megy} No. Date Account Titles and Explanation Debit m May 2 1