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Need this structured properly so I can understand it easily, please. I've seen 2 of the same questions on here and both people got it
Need this structured properly so I can understand it easily, please. I've seen 2 of the same questions on here and both people got it wrong. Help please.
View Policies Show Attempt History 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 $4,320 and two jobs in process: Job No. 429$2,580, and Job No. 430$1,740. During May, a summary of source documents reveals the following. Stine Company applies manufacturing overhead to jobs at an overhead rate of 62% of direct labor cost. Job No. 429 is completed during the month. (a) - Your answer is partially correct. 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.) Your answer is partially correct. 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.) Your answer is partially correct. 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.)Step by Step Solution
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