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Exercise 2-2 (Video) Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,000 and two jobs in process: Bob No. 429 $2,330, and Job No. 430 $1,750. During May. source documents reveals the following. Materials Labor Time Job Number Requisition Slips Tickets 429 $2,790 $2,100 430 4,080 3,500 4,830 $11,700 8.200 $13,800 General use 960 1,680 $12,660 $15,480 Stine Company applies manufacturing overhead to jobs at an overhead rate of 64% of direct labor cost. Job No. 429 is completed during the month, Prepare summary journal entries to record (1) the requisition slips, (3) the time tickets, (3) the assignment of manufacturing overhead to jobs, and (4) the completion of Job No. 420. (Credit account eithes automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit (1) May 31 (2) 31 No. Date Account Titles and Explanation Debit Credit (1) May 31 (2) 31 (3) 31 (4) 31 SHOW LIST OF ACCOUNTS Post the entries to Work in Process Inventory, and prove the agreement of the control account with th Work in Process Inventory Post the entries to Work in Process Inventory, and prove the agreement of the control account wit Work in Process Inventory May 31 Balance May 1 Balance May 31 Job Cost Sheets Job Beginning Work No. in Process Direct Material Direct Labor Manufacturing Overhead Total 430 $ 431 Click if you would like to Show Work for this question: Open Show Work