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Please show work if possible. Oriole Company uses a job order cost system. On May 1, the company has balances in Raw Materials Inventory of
Please show work if possible.
Oriole Company uses a job order cost system. On May 1, the company has balances in Raw Materials Inventory of $15,600 and Work in Process Inventory of $4,010 and two jobs in process: Job No. 429 $2,590, and Job No. 430 $1,420. During May, the company incurred factory labor of $15,220. A summary of source documents reveals the following. Job Number 429 430 Materials Requisition Slips $2,760 3,860 4,950 $11,570 910 $12,480 Labor Time Tickets $2,300 3,410 7,810 $13,520 1,700 $15,220 431 General use Oriole Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during the month. Prove the agreement of the Work in Process Inventory control account with the job cost sheets. Job Cost Sheets Job Beginning Work Direct Direct Manufacturing No. in Process Material Labor Overhead Total 430 $ $ 431 $ $
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