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Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,080 and two

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $4,080 and two jobs in process: Job No. 429 $2,590, and Job No. 430 $1,490. During May, a summary of source documents reveals the following.

Job Number

Materials Requisition Slips

Labor Time Tickets

429 $2,870 $2,130
430 3,660 3,580
431 4,500 $11,030 7,740 $13,450
General use 990 1,630
$12,020

$15,080

Stine Company applies manufacturing overhead to jobs at an overhead rate of 66% 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. 5,275.)

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