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Oriole Manufacturing uses a job-order costing system. On May 1 , the company has a balance in Work in Process Inventory of $3,500 and two
Oriole Manufacturing uses a job-order costing system. On May 1 , the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429$2,130, and Job No. 430$1,370. During May, a summary of source documents reveals the following: Oriole Manufacturing applies manufacturing overhead to jobs at an overhead rate of 60% of direct labour cost. Job No. 429 is completed during the month. Prepare summary journal entries to record the: (Credit account titles are automatically indented when the amount is entered. Do not ndent manually.) Factory Labour 14790 3. May Work in Process Inventory 7914 Manufacturing Overhead 7914 4. May Finished Goods Inventory \begin{tabular}{|l||} \hline \hline 3828 \\ \hline \hline \end{tabular} Work in Process Inventory \begin{tabular}{||c||} \hline \hline 2828 \\ \hline \hline \end{tabular} eTextbook and Media List of Accounts Attempts: 3 of 3 used 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.) Job Cost Sheets Direct Material eTextbook and Media List of Accounts Save for Later Last saved 45 seconds ago. Attempts: 1 of 3 used Submit
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