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please help me to understand why are these answers wrong View Policies Show Attempt History Stine Company uses a job order cost system. On May
please help me to understand why are these answers wrong
View Policies Show Attempt History Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,110 and two jobs in process: Job No. 429 $2,460, and Job No. 430 $1,650. During May, a summary of source documents reveals the following. Labor Time Tickets Job Number 429 Materials Requisition Slips $2,730 3,900 4,830 $11,460 910 430 $2,300 3,100 7,800 431 General use $13,200 1,800 $15,000 $12,370 Stine Company applies manufacturing overhead to jobs at an overhead rate of 63% 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 Debit Credit (1) May 31 Work in Process Inventory 11460 Manufacturing Overhead 910 Raw Materials Inventory 12370 (2) 31 Work in Process Inventory 13200 Manufacturing Overhead 1800 Factory Labor 15000 (3) 31 Work in Process Inventory 8316 Manufacturing Overhead 8316 (4) 31 Finished Goods Inventory 8988 Work in Process Inventory 8988 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.) Work in Process Inventory May 1 Balance 4110 May 31 V 8939 May 31 11460 May 31 28147 May 31 13200 May 31 8316 May 31 Balance 37086 May 1 Balance 37086 Job Cost Sheets Job No. Beginning Work in Process Direct Material Direct Labor Manufacturing Overhead 430 $ 1650 $ 3900 $ 3100 $ 18 431 i 4830 7800 45 $ 8730 $ 10900 $ 67 Job Cost Sheets Direct Material Direct Labor Manufacturing Overhead Total $ 3900 $ 3100 1800 $ 10450 4830 7800 4914 17544 8730 10900 $ 6714 $ 37111Step by Step Solution
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