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please help on this problem Stine Company uses a job order cost system. On May 1, the company has a balance in work in Process
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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 summary of source documents reveals the following. 2,100, and Job No. 430 $1,300. During May, a Materials Labor Time Tickets Job NumberRequisition Slips 429 430 431 General use $2,600 3,600 4,500 $2,000 3,100 7.700 $10,700 900 $11,600 $12,800 1,300 $14,100 Stine Company applies manufacturing overhead to jobs at an overhead rate or 60% or direct labor cost. Job No. 429 is completed during the month. Your answer is 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, Round answers to 0 decimal places, e.g. 5,275.) No. Date Account Titles and Explanation Debit Credit (1) May 31Work in Process Inve ntor) T1070a anufacturing Overhea aw Materials Invent in Process Inven TH Yao anufacturing Overhea d actory Labo z680 31 work i tor) in Process Inven Manufacturing Overnea , (4) 31Finished Goods Invento work in Process Inventory Attempts: 2 of 3 used 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. Round answers to 0 decimal places, e.g. 5,275.) Work in Process Inventory Job Cost Sheets Direct Material Direct Labor Manufacturing Overhead Job Beginning Work in Process No. 430 431 Total Attempts: 0 of 3 usedStep by Step Solution
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