Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,810 and two jobs in process: Job No. 429 $2,330, and Job No. 430 $1,480. During May, a summary of source documents reveals the following.

Exercise 20-2 Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,810 and two jobs in process: Job No. 429 $2,330, and Job No. 430 $1,480. During May a summary of source documents reveals the following Materials Requisition Slips Labor Time Tickets Job Number 429 430 431 General use $2,200 3,350 8,120 $2,870 3,930 4,930 $11,730 980 $12,710 $13,670 1,700 $15,370 Stine Company applies manufacturing overhead to jobs at an overhead rate of 61% of direct labor cost. Job No. 429 is completed during the month