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Sandhill Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,430 and two
Sandhill Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,430 and two jobs in process: Job No. 429 $1,960, and Job No. 430 $1,470. During May, a summary of source documents reveals the following. Job Number 429 430 431 General use Materials Requisition Slips $2,450 3,430 4,330 $10,210 820 $11,030 Labor Time Tickets $1,880 2,940 7,450 $12,270 1,140 $13,410 Sandhill Company applies manufacturing overhead to jobs at an overhead rate of 60% of direct labor cost. Job No. 429 is completed during the month.
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