Stine Company uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $3,210 and two jobs in process: Job No. 429 $1,940, and Job No. 430 $1,270. During May, a summary of source documents reveals the following.

Job Number			Materials Requisition Slips				Labor Time Tickets
429			$2,360				$2,160
430			3,350				2,710
431			4,180		$9,890		7,390		$12,260
General use					940				1,160
					$10,830				$13,420

Stine Company applies manufacturing overhead to jobs at an overhead rate of 80% of direct labor cost. Job No. 429 is completed during the month.

Prepare summary journal entries on May 31 to record: (i) the requisition slips, (ii) the time tickets, (iii) the assignment of manufacturing overhead to jobs, and (iv) 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
(i)	May 31
(ii)	May 31
(iii)	May 31
(iv)	May 31

Show List of Accounts

Post the entries to Work in Process Inventory. (Post entries in the order of journal entries posted in Part 1.)

Work in Process Inventory

Show List of Accounts

Prove the agreement of the control account with the job cost sheets of the unfinished jobs.

Job Cost Sheets
Job No.		Beginning Work in Process		Direct Material		Direct Labor		Manufacturing Overhead		Total

	$		$		$		$		$

		$		$