Question 4 of 11 View Policies Show Attempt History < > Current Attempt in Progress 0.5/1 : Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,510 and two jobs in process: Job No. 429 $2,150, and Job No. 430 $1,360. During May, a summary of source documents reveals the following Job Number Materials Requisition Slips Labor Time Tickets 429 $2,970 $2,100 430 4.100 3,200 431 4,540. $11,610 8,100 $13,400 General use 900 1,590 $12,510 $14,990 Stine Company applies manufacturing overhead to jobs at an overhead rate of 68% of 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.) No. Date Account Titles and Explanation Debit Credit (1) May 31 Work in Process Inventory 11610 Manufacturing Overhead 900 Raw Materials Inventory (2) 31 Work in Process Inventory 13,400 (3) Manufacturing Overhead 1590 Factory Labor 31 33 Work in Process Inventory 9112 Manufacturing Overhead (4) 31 Finished Goods Inventory Work in Process Inventory 8648 12510 14990 9112 8648 Question 4 of 11 (b) 0.5/1 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.) May 1 Balance Job No. 430 $ 431 $ Beginning Work in Process Work in Process Inventory $ Direct Material Job Cost Sheets Direct Labor Manufacturin Overhead C A Q Ac Qu Acc Qu Acco Que