Question for Accounting

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,130 and two jobs in process: Job No. 429 $2,370, and Job No. 430 $1,760. During May, a summary of source documents reveals the following. Materials Labor Time Job Number Requisition Slips Tickets 429 $3,090 $2,080 430 3,960 3,310 431 4,820 $11,870 8,180 $13,570 General use 960 1,320 $12,330 $14,390 Stine Company applies manufacturing overhead to jobs at an overhead rate of 69% 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. Round answers to 0 decimal places, e.g. 5,2 75.) No. Date Account Titles and Explanation Debit Credit (1) May 31 Work in Process Inventory 11870 Manufacturing Overhead 960 Raw Materials Inventory 12830 Prepare summaryjournal 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, e3. 5,275.) No. Date Account Titles and Explanation Debit Credit (1) May 31 Work in Process Inventory 11870 Manufacturing Overhead 960 Raw Materials Inventory 12830 (2) 31 Work in Process Inventory 13570 Manufacturing Overhead 1320 Factory Labor 14890 (3) 31 Work in Process Inventory 9,363 Manufacturing Overhead 9,363 (4) 31 Finished Goods Inventory Work in Process Inventory 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 O decimal places, e.g. 5,275.) Work in Process Inventory May 1 Balance May 31 May 31 May 31 May 31 May 31 Balance Job Cost Sheets Job Beginning Work Direct Direct Manufacturing No. in Process Material Labor Overhead Total 430 $ $ $ 431 to to